Park Street Development
Texas Multifamily Development
Investment Summary
Where:
What:
A luxurious multifamily residential development with high-end fixtures and finishes and exclusive amenities; 90 units / 83,412 sf.
Exterior Rendering
Timeline:
ETX Park Fund will break ground on pre-construction infrastructure approximately 3 months after completion of fundraising efforts, with construction of approximately 90 multifamily residential units to begin as soon as sufficient infrastructure is in place. Project will be completed and fully leased 18–24 months after close of fundraising.
In addition to the planned initial phase of 90 units, ETX Park Fund intends to build another 90 units in a second phase of construction.
The next phase of construction is anticipated to commence after the initial units have been fully leased. This second phase of units is anticipated to be built at the Park Street property directly adjacent to the initial phase of 90 units. The company plans to raise additional funds via another offering of the company’s membership interests for this second phase.
Site Plan
Orbit Video of Optioned Land
The Project
Complex and Unit Amenities:
- Nestled in the piney woods of East Texas, conveniently located near both Stephen F. Austin State University and historic downtown Nacogdoches
- Based on Humphreys & Partners Architects award-winning signature Stak House™ design
- Modern luxury with a “big house” look and feel
- Convenient parking, leasing office, splash pad, outdoor BBQ and gathering areas, pet-friendly amenities including an on-site dog park, high-speed internet access, fitness center, secure access and security, group meeting and co-working spaces
- Spacious, open-concept with clean lines
- Large windows, hardwood and tile floors
- Modern kitchen with high-end appliances and granite countertops
- Walk-in closets and in-unit washer and dryer
- High-speed internet and smart home integration
- High-quality spa-inspired bathroom features, including a large tub, spacious vanity, and concealed storage
- Energy-efficient and eco-friendly features throughout
Interior Rendering
Why Invest
Centrally Located:
Local Support:
Interstate Expansion:
Additional sections of I-69 are currently under construction and will pass directly through Nacogdoches, TX. ETX Park Fund believes completion of these segments will drive growth and increase land values.
Stephen F. Austin State University Campus:
The proposed building site offers convenient access to downtown Nacogdoches and to the Stephen F. Austin State University (SFASU) campus.
SFASU is a public university located in Nacogdoches, Texas. It was founded in April 1923 and offers approximately 80 undergraduate majors and 120 areas of study within six academic colleges, including business, education, fine arts, forestry and agriculture, sciences, and liberal arts.
On May 11, 2023, SFASU joined the University of Texas System. It is anticipated that this move will bring new investment to the university and increase demand for housing in the broader community.
Use of Proceeds
$5,339,588
Asset Development
$758,287
Contingencies
$609,000
Pre-construction Infrastructure
$370,125
Land Acquisition
$150,000
Reimbursement
$73,000
Broker Dealer Commission
Management:
Brent Beal
Chief Executive Officer
Brock Beal
Chief Financial Officer