San Antonio-based SWBC Real Estate LLC has purchased land in Rockwall for a new apartment community.
SWBC bought 21.3 acres located about a quarter of a mile south of Interstate 30 at John King Boulevard. The site is in Rockwall’s Technology Business Park.
The 295-unit rental community will be called The Remington at Rockwall Downes.
SWBC has also acquired adjoining property for a second phase of development with an additional 295 apartments.
“Rockwall is a great family-oriented community with a low supply of new multi-family units,” Stuart Smith, Senior Vice President of SWBC Real Estate, said in a statement. “With its location just off Interstate 30 and within the high growth area of Rockwall, we feel that this location is a prime site for multi-family development.
“The Remington will attract tenants looking for first-class amenities in close proximity to numerous employment centers, retailers, restaurants, and entertainment venues within Rockwall.”
The 2-story and 3-story apartment complex will include clubhouse with a resort-style pool and spa, fitness, jogging trails, a dog park and several water features.
Construction is set to start on the project in May and will open 20 months later.
Plano-based Cross Architects designed the project.
SWBC Real Estate is currently developing apartments in McKinney’s Craig Ranch community.
The developer is a division of SWBC Enterprises Ltd., the San Antonio-based financial services and real estate firm.