Trinsic Residential Group plans to build a new apartment complex in Mesquite, Texas, as part of its ongoing multifamily development efforts. The Dallas-based company has filed with the state for Aura Fairways, a 300-unit project estimated to cost $28 million. Construction is scheduled to begin in November, with completion expected by the end of 2027.
The proposed development will cover 296,000 square feet at 5201 Northwest Drive, about five miles from Lake Ray Hubbard and roughly 15 miles northeast of downtown Dallas. Mesquite has an estimated population of nearly 150,000.
Recent market conditions have posed challenges for multifamily developers in the region. Higher interest rates have increased construction costs while a surge in new apartment deliveries has led to lower rents and occupancy rates. In May, Dallas-Fort Worth experienced a year-over-year rent decrease of 1.5 percent and an occupancy rate of 92.6 percent, ranking third-lowest among the largest U.S. cities according to Yardi Matrix (https://www.yardimatrix.com/).
Despite these headwinds, some analysts expect that a slowdown in new development could help stabilize or increase rents by late 2025 or early 2026. This could benefit projects like Aura Fairways as they come online.
Trinsic was founded in 2011 by CEO Brian Tusa and COO Joe Barrett and operates across several states including Arizona, North Carolina, Colorado, Florida, Virginia, and Texas.
In addition to Aura Fairways, Trinsic’s pipeline includes several other projects in the Dallas-Fort Worth area: Aura McKinney II (311 units), Aura Crown Heights and Aura Crown Center III (each with 300 units), Aura Southgate II (303 units), and Aura Northline (305 units).
