Melissa landed another apartment development.
The community north of McKinney has been one of the fastest growing single-family home markets in North Texas.
And now apartment builders are flocking to the former railroad town on US Highway 75.
The latest rental developer to target Melissa is Arizona-based Alliance Residential, one of the nation’s largest apartment builders.
Alliance Residential is planning a 10-building, 336-unit apartment community at US 75 and West Melissa Road, according to planning documents filed with the state.
The $39.5 million multi-family housing development is expected to begin construction later this year and will open in 2024.
Demarest Architecture of Dallas is designing the project.
Alliance Residential is the latest builder to plan a rental project in Melissa so far in 2022.
Dallas-based HighPark Capital just announced the construction of a 284-unit rental community at the southeast corner of State Highway 121 and Milrany Lane. The apartments at Ferme 121 will open in early 2023.
Arizona-based builder Taylor Morrison is building a 20-acre single-family rental community near US 75 and Melissa Road.
The Dallas-Fort Worth area is the fastest growing apartment market in the nation with more than 56,000 units under construction.