DALLAS, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, announces the groundbreaking of Whitlow, a new four-story, 420-unit luxury mid-rise apartment community in Lewisville, Texas, totaling nearly 600,000 square feet. Whitlow will be the firm’s eighth luxury rental property to be developed in the vibrant Dallas-Fort Worth market. Construction is anticipated to be completed in early 2024.
Toll Brothers has once again partnered with The Davis Companies to develop Whitlow. The firms have previously partnered on seven other communities in multiple markets across the United States. The lender for the project is Citizens Bank and the financing was arranged by Toll Brothers’ in-house Finance Department.
The recent groundbreaking celebration was attended by senior executives from Toll Brothers Apartment Living, Whitlow’s development partners, and Lewisville elected and appointed government officials.
“We are excited to bring another exceptional luxury community to the Dallas-Fort Worth market,” said Charles Elliott, President of Toll Brothers Apartment Living. “Whitlow will be everything that discerning residents have come to expect from Toll Brothers Apartment Living in this dynamic area. With contemporary residences, outstanding amenities, dedicated services, and personalized attention, Whitlow will provide a lifestyle that epitomizes Texas hospitality.”
Whitlow will feature 420 apartment residences and 588 parking spaces. Located at 501 East College Street in Lewisville, Whitlow will provide residents with seamless connections to the charming historic district, the nearby prairie preserves, Lewisville Lake, and the excitement of Dallas just south.
The contemporary apartment homes at Whitlow will feature high-end luxury finishes including stainless steel appliances, luxury wood-like flooring, high-end cabinetry, quartz countertops, and smart locks. Residents will also enjoy more than 15,000 square feet of amenity space including a clubhouse, game room, fitness center, resort-style pool, outdoor lounge, pet park, and more.
“Whitlow is exceptionally located in the heart of Old Town Lewisville,” said Tommy Rhodus, Texas Regional Director of Toll Brothers Apartment Living. “We are excited to bring this sophisticated new community to the vibrant Dallas-Fort Worth market as we continue to grow our presence across Texas and across the United States.”
“We are pleased to once again team up with Davis Companies as our partner in bringing this luxury apartment community to fruition,” said Frederick N. Cooper, Senior Vice President of Finance and Investor Relations for Toll Brothers. “With our partnership’s combined capital and development expertise, as well as financing from Citizens Bank, we continue to drive the growth of our Toll Brothers Apartment Living business in the most capital-efficient manner possible.”
Whitlow represents the continued rapid expansion of Toll Brothers Apartment Living’s footprint in Texas, with the firm currently poised to begin construction on nearly 2,400 units across the state before the end of 2022.
For more information about Whitlow visit LiveWhitlow.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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