The details
The Beacon, an 18-unit apartment building in downtown Frisco, is expected to start pre-leasing in mid-June, according to a website for the project.
The first floor will be reserved for commercial uses and topped with floors of residential units. Various floor plans are offered at The Beacon, including single- and two-bedroom units.
The units go for between $2,300-$3,200.
Zooming in
The project is being developed by the Dallas-based CAP Multifamily, which focuses on smaller, residential apartment buildings, such as The Beacon.
CAP is developing multiple projects in the Rail District, including other small apartment buildings like The Platform and The Gallery.
Chris Aaron, co-founder of CAP, said his company is trying to get back to the roots of multifamily development by building smaller projects.
Zooming out
Downtown is currently going through a $70 million redevelopment project, which includes the construction of Elm and Main streets, the Fourth Street Plaza and a five-story parking garage.
Work on the redevelopment began in July 2023.
“For the long-term success of our downtown, it's imperative [the city is] doing what they're doing,” Aaron said. “We need to bring more people down here. We’re trying to do our part.”
What they’re saying
Historically, apartment buildings have been small, Aaron said. It wasn’t until the ’80s that bigger projects such as mid- and high-rise buildings became popularized.
“Everyone has their reasons to be developing what they're developing, and we just want to bring back multifamily,” Aaron said. “We're never going to do it on the scale that the big guys can do it, but we can certainly focus in on areas like Dallas or Frisco or other downtowns in the future where we can really bring that boutique residential feel back to where it originally was.”
None of CAP’s ongoing projects exceed 40 units, according to its website.
The Beacon is still being built, but Aaron said it’s coming along and unit appliances, such as microwaves, washers and dryers, are being delivered.
What’s next?
Aaron said the interior of the building should be finished by the end of May but there could be setbacks due to weather. Workers are also getting ready to pour concrete for a new parking lot and then the final touches can be made on the facade of the building.
People could move into units by mid-June or mid-July, he said.
