ALLEN, Texas — Drever Capital Management and The Alder Group have started construction of Alders at Twin Creeks, a 243-unit active adult community in the Dallas suburb of Allen.
California-based Drever and Allen-based Alder are both multifamily developers, and are jointly building the property. The community is restricted to those over the age of 55 and is targeted toward Baby Boomers.
Alders at Twin Creeks will occupy eight acres and will feature an 18,000 square foot recreational area with an oversized pool, cabanas and commercial outdoor grill kitchen. The first phase of construction is slated for completion in December 2017.
Rents will start near $1,400 per month. Units range in size from 730 to 1,280 square feet.
Drever Construction Co. and KWA Construction Co. will build Alders at Twin Creeks. Architect Frank Polacio, principal of Architectura of Plano, was commissioned to design the property.