DALLAS--(BUSINESS WIRE)--Transcontinental Realty Investors, Inc. (TCI) is pleased to announce the groundbreaking ceremony for Terra Lago, a high-end residential development in Rowlett, Texas. The property is located in a part of the city that is close to the "Healthy Living" district, an area featuring an expanding hospital and many supporting uses.
The event was attended by Rowlett’s mayor, Todd Gottel. The property joins other high end developments as a part of the city’s Realize Rowlett 2020 initiative. The Realize Rowlett 2020 plan envisions Rowlett’s shores to be transformed into "The Wellness Preserve," featuring aquatic habitats, a kayak/canoe launch, nature trails, boardwalk, playground, and fishing pier, among other amenities.
Mayor Gottel commented, “Terra Lago will be very attractive to our community’s professionals who are seeking upscale, lakeside living without the responsibilities associated with traditional single family housing.”
Terra Lago is a four-story Mediterranean-style apartment complex comprised of 447 units. Located on the shore of Lake Ray Hubbard, this piece of land features old-growth trees and scenic rocky banks. The City is planning to further enhance this site by building a park and walking trail at this location. Residents will be able to step outside and enjoy these features in their own back yard. The plan even envisions a water taxi that would transport guests to other points along the lake.
The project will be built to cater to those who wish for the best of what Rowlett and multi-family living have to offer. With an exquisite Mediterranean facade, every detail of a carefree lifestyle will be incorporated into the complex. A state-of-the-art fitness center and luxury community room will be enjoyed by residents, as will the courtyard pool areas and outdoor cooking facilities. Residents will park in structured parking and be able to enter the buildings on the floors on which they live. Then, walking through air-conditioned corridors, they will live in units that feature a wide array of upscale amenities such as granite countertops, island kitchens, and all of the appointments found in only the best luxury apartment properties.
“Terra Lago is just one example of TCI’s dedication to building high-end multi-family developments in communities with a modern vision,” stated Gene E. Phillips, noted Dallas real estate Advisor. “The Realize Rowlett 2020 initiative is a prime example of a vibrant city with a sharp eye on the future of real estate and a unique community identity.”
Transcontinental Realty Investors, Inc. maintains a strong emphasis on creating enhanced shareholder value through acquisition, financing, operations, developing, and disposition of real estate across many geographic regions in the United States. A New York Stock Exchange company, Transcontinental is traded under the symbol "TCI." Transcontinental produces revenue through the ownership and professional management of apartments, office buildings, warehouses, and retail centers that are "undervalued" or "underperforming" at the time of acquisition. Value is added under Transcontinental ownership, and the properties are repositioned into higher classifications through physical improvements and improved management. Transcontinental also develops new properties, such as luxury apartment homes principally, on land it owns or acquires.
