Atlanta-Based Developer Doesn’t Seem Worried About Speedway Noise, Traffic in Fort Worth

It’s a prime location for putting in residential projects. The vicinity is bustling with industry, restaurants, and retail — and you’re out in the country in a matter of minutes.

And for that Beaver Nuggets fix, you’ve got a Buc-ee’s nearby.

RangeWater Real Estate has broken ground for hundreds of apartments and rental townhomes on a 23-acre property in north Fort Worth.

The Atlanta-based developer didn’t say so in its press release or other materials, but it hasn’t addressed how bustling. As bustling goes, it’s pretty bustling.

It’s near the fast-growing corridor that includes Texas Motor Speedway and Fort Worth Alliance Airport. Nowhere in the promotional materials were noise or traffic issues mentioned.

But RangeWater is going full-speed ahead.

“Fort Worth is exploding with job opportunities as more businesses open shop, causing a spike in demand for quality housing,” Nick Wilhelmson, managing director of RangeWater’s Southwest region office, said in a statement. “Our offering of both townhomes (Palo) and apartments (Ellianna) ensure we’re strategically positioned to serve the city’s growing population.”

Privately owned RangeWater, which was founded in 2006, has acquired, developed, managed, and invested in multifamily communities across the southern U.S. The firm has a $6.3 billion portfolio with the Fort Worth project the first in Fort Worth and the sixth in Texas.

RangeWater has broken ground in the area’s Beechwood neighborhood with two product types: Palo, a 120-unit townhome community as part of its Storia build-to-rent (BTR) home portfolio, and Ellianna, a 325-unit apartment community.

Palo and Ellianna are also adjacent to The Golf Club at Champions Circle, Tanger Outlets, and Alliance Town Center. The new Charles Schwab and Fidelity headquarters both are nearby and downtown Fort Worth is less than 20 miles south on Interstate 35W.

RangeWater has developed several projects in Dallas-Fort Worth, including the Ross & Peak apartments in East Dallas.

As part of the Storia division, Palo will have 120 townhomes, all with three-bedroom, 2.5-bath floor plans, and each with private patios and outdoor grilling space.

Ellianna’s 325 apartment units will range from one-, two-, and three-bedroom floorplans, and will have their amenities. Key attractions include a dog park, outdoor kitchen and grilling area, separate community pool, clubhouse, fitness center, and an onsite activity director.

“Our team’s collective efforts to strategically grow in the Sunbelt is commendable, and we look forward to more development, acquisition, and property management assignment announcements in the near future,” Steven Shores, RangeWater chairman and CEO, said in the statement.