DALLAS, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, and joint venture partner Pondmoon Capital, announce the grand opening of Ferro, the firm’s new four-story, 379-unit luxury apartment community in Plano, a northeast suburb of Dallas. Ferro’s construction, financed with a $46 million loan from Santander Bank, commenced in 2020 and was completed in spring 2022, with first occupancy of residents in May 2022.
The firm recently hosted a grand opening celebration at the community, where more than 50 senior executives from Toll Brothers, Ferro’s development partners and consultants, and local elected officials attended a private reception and toured the property. Afterward the celebration continued with a party for more than 200 current and prospective residents of the community.
“We are thrilled to partner once again with Pondmoon Capital and Santander Bank on another extraordinary project,” said Charles Elliott, President of Toll Brothers Apartment Living. “Ferro is our fourth rental community to open its doors in Dallas-Fort Worth and reflects our conviction in the attractiveness of the North Texas market.”
Designed by GFF, Ferro is situated on a nearly five-acre site spanning two blocks located south of downtown Plano at 11th Street and Avenue K. The luxury mid-rise apartment community includes a mix of studio, one-, and two-bedroom floor plans spread throughout two buildings, with an elevated walkway connecting the two buildings on each side of 11th Street. The community also includes a structured parking garage with 476 spaces, which includes EV (electric vehicle) charging stations and storage solutions for residents.
“Toll Brothers Apartment Living strives to deliver the most thoughtful rental offerings available in every market in which we operate and Ferro is no exception, providing the same quality, luxury, and service for which Toll Brothers is already known nationwide,” said Tommy Rhodus, Texas Regional Director of Acquisitions & Development for Toll Brothers Apartment Living. “From the quality of its materials to its exceptional amenity offerings, we believe Ferro will raise the bar for the rental luxury living experience in Plano and North Texas.”
Ferro boasts approximately 13,500 square feet of interior and exterior amenity space, which includes a double-height hospitality lobby, Package Concierge® lockers and oversized package room with cold storage, a fitness center with strength, cardio, and flex studios featuring state-of-the-art equipment such as Peloton®, a resident lounge featuring a complimentary coffee bar, an interactive gaming lounge with billiards and bar seating, a community library, a maker space, a resort-style pool with cabanas, an outdoor amphitheater, a dog park and fully equipped pet spa, private courtyard lounges featuring lawn games and grills, a bike repair and storage area, and community-wide Wi-Fi.
Residences feature smoked oak-style flooring in living areas, quartz countertops and designer tile backsplashes, European-style cabinets, Whirlpool® stainless steel appliances and undermount sinks, upgraded fixtures and hardware, designer light fixtures, large soaking tubs and stand-up showers, stone-look bathroom flooring with designer tile, plush textured carpeted bedrooms, large walk-in closets, in-residence Wi-Fi, and smart home features including Latch keyless entry and smart thermostats. Select residences also include built-in dry bars, double bathroom vanities, oversized showers with benches and rainfall showerheads, and private balconies.
Ferro is located within a 10-minute walk to downtown Plano and is steps away from the forthcoming 12th Street Dallas Area Rapid Transit (DART) station, which provides convenient light-rail access to job centers in Plano, Richardson, and downtown Dallas, as well as access to the new Silver line, with connections to DFW airport, Addison, Carrolton, and more. Ferro is also convenient to major employment centers with easy access to US 75 and the President George Bush Turnpike, including the North Central Expressway/US 75 corridor located in nearby Richardson, which is occupied by several top-tier employers. Close to endless green spaces, cultural attractions, and walkable streets replete with acclaimed retail and dining opportunities, residents will also be able to take advantage of walkable Downtown Plano and the prominent Historic Downtown Plano Arts District.
Ferro is the fourth project completed by Toll Brothers Apartment Living in Texas, following Kilby in Frisco and Westerly in Dallas, both of which were sold in 2020 and 2021 respectively, and Aster, Toll Brothers Apartment Living’s flagship 22-story high-rise in Dallas’s Turtle Creek neighborhood, which hosted its grand opening celebration in early 2022. The firm has also broken ground on five more projects in North Texas, including Whitlow in Lewisville, Lyle in Dallas, Settler in Fort Worth, Remy in Frisco, and Peregrine in Irving.
For more information about Ferro, visit LiveFerro.com.
About Toll Brothers Apartment Living®
Toll Brothers Apartment Living is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), an award-winning FORTUNE 500 company, and the nation's leading builder of luxury homes. Toll Brothers Apartment Living brings the same quality, luxury, and service for which Toll Brothers is known to its exceptional rental and mixed-use communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix, and Washington, DC. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of America’s Luxury Home Builder®. In 2022, NMHC ranked Toll Brothers Apartment Living the 11th largest apartment developer in the United States. Today, the firm has developed nearly 8,500 units, has nearly 4,500 units under management, and controls a national pipeline of more than 20,500 units. For more information visit TollBrothersApartmentLiving.com.
About Toll Brothers
Toll Brothers, Inc., a FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded 55 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.
Toll Brothers was named the World’s Most Admired Homebuilder in FORTUNE magazine’s 2022 survey of the World’s Most Admired Companies®, the seventh year it has been so honored. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
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