REBusinessOnline

Greystar to Develop Adjacent Multifamily, Seniors Housing Properties in Dallas

DALLAS — Greystar will develop Elan Inwood and Forestwood Active Adult, two multifamily properties totaling 377 units in Dallas. The properties will be built adjacent to one another on a 22.7-acre site at the corner of Inwood Road and Forest Lane. Elan Inwood will comprise 168 rental townhome units and 12 single-family homes, while Forestwood will be a seniors housing community with 197 units. Amenities at Forestwood will include a fitness center, game room, media room, demonstration kitchen for cooking classes and a 12,000-square-foot amenity center. Both properties are slated for a late 2019 completion. Andy Scott, Michael Cosby and Sarah Anderson of HFF arranged an undisclosed amount of financing for both developments through CIT Group Inc.

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