Property: Haven at Mansfield
Developer: Ascendant Development
Architect: EDI International
Location: Mansfield, Texas
Houston-based multifamily developer, investor and general contractor Ascendant Development has finished and opened its latest development, Haven at Mansfield, in Mansfield, Texas.
The four-story property, planned and designed by Houston-based architect EDI International, includes studio, one-bedroom and two-bedroom units ranging from 634 to 1,270 square feet in size, according to a press release shared with Multifamily Dive. The exterior mixes multiple types and colors of brick against a white stone facade, while the interior presents white and gray tones against light wood accents.
Located northwest of Dallas and southeast of Fort Worth, Mansfield is a fast-growing submarket with a population that rose 36% between 2010 and 2022, according to the U.S. Census Bureau. Haven at Mansfield is within a short distance of Heritage Parkway and Texas 360, offering residents quick access to the nearby metroplex and its employer base.
The property began leasing in July and, as of the completion of construction, its units are 35% preleased with rents well above pro forma, according to the release.
“Haven at Mansfield encapsulates Ascendant’s strategy to develop luxury apartment communities in submarket locations in Texas characterized by strong household formation and job growth coupled with high barriers to entry for competing multifamily,” said David Kulkarni, principal of Ascendant, in the press release.
Ascendant’s portfolio is entirely concentrated in large Texas markets, with the exception of one property in Nashville. The firm recently completed a 131-unit build-to-rent property, Preserve at Woodridge, in Kingwood, Texas, and broke ground on a 231-unit garden-style development, Haven at Treeline, in Tomball, Texas.
Units at Haven at Mansfield offer vinyl plank flooring, LED lighting, granite countertops, in-unit laundry and stainless steel appliances, and amenities include a fitness center and yoga/spin room, a saltwater pool, a game room, a club room and green space.