Apartments, townhomes underway in Fort Worth near Texas Motor Speedway

Press Release


An Atlanta-based developer has broken ground on a 23-acre property near the Texas Motor Speedway in Fort Worth for hundreds of apartments and rental townhomes.

RangeWater Real Estate is building two projects on the southeast corner of Double Eagle Boulevard and Blue Mound Road — a 325-unit apartment complex named Ellianna alongside Palo, a community of 120 townhomes. This is the company’s first project in Fort Worth.

Ellianna will include one-, two- and three-bedroom apartments with a dog park, an outdoor kitchen and grilling area, a pool, a clubhouse and a fitness center. Palo’s townhomes will all have three bedrooms, two full bathrooms and a half-bathroom with private patios and outdoor grilling space, along with a separate pool.

The homes will be in a fast-growing corridor of the city with Fort Worth Alliance Airport, The Golf Club at Champions Circle, Tanger Outlets and Alliance Town Center, as well as corporate offices for Charles Schwab and Fidelity.

“Fort Worth is exploding with job opportunities as more businesses open shop, causing a spike in demand for quality housing,” said Nick Wilhelmson, managing director of RangeWater’s Southwest regional office, in a statement. “Our offering of both townhomes and apartments ensure we’re strategically positioned to serve the city’s growing population.”

The townhomes are part of RangeWater’s Storia division, which is investing in rental home developments across the Sun Belt. That started with a community in Atlanta, and the company has since expanded into San Antonio and Boulder, Colo.

Next to the apartments, the developer also plans to build a three-bedroom townhome community, Palo.
Founded in 2006, RangeWater develops, manages and invests in apartments across the Southeast and Southwest. The company manages more than 86,000 apartments in 11 states and is focusing its growth in the Southwest, with projects underway in Texas, Colorado, Arizona and Utah. RangeWater, formerly known as Pollack Shores, has developed several projects in Dallas-Fort Worth, including the Ross & Peak apartments in East Dallas. In 2020, the company purchased land to build more than 230 apartments in Dallas’ Lower Greenville neighborhood. San Antonio-based Embrey Partners also bought land in North Fort Worth in July for Collection Champions Circle, a duplex community with 276 rental homes at the southwest intersection of Championship Parkway and State Highway 114.