Gray Branch Luxury Apartments is a development off of Highway 380 (University Drive) at Ridge Road in McKinney, Texas. The 15-acre site is across the street from McLure Elementary School and close to major employers such as Baylor Scott & White Medical Center and Raytheon Corporation. The project features all two-story buildings. The strong sponsor group includes Cross Development Group, Cross Architects, NE Construction as well as Kalterra. The project is capitalized by a HUD 221(d)(4) loan and a syndicated equity raise.
December 16, 2019