Stryker Properties and Griffon Capital Management have secured a $57 million construction loan from BridgeInvest for the Freemont Frisco Apartments, a new 313-unit development in Frisco, Texas. The project, located at 9402 Frisco Street, will include an affordable housing component through a partnership with the Housing Authority of the City of Frisco.
The financing equates to approximately $182,000 per unit. A portion of the units will be offered at affordable rates as part of a sale-leaseback and ground lease arrangement with the Housing Authority. Under this agreement, 45 percent of the apartments will be reserved for residents earning up to 80 percent of the area median income (AMI), while five percent will be set aside for those making 60 percent AMI. In return, the property receives tax credits.
Public-private partnerships are playing a key role in enabling new apartment projects amid tighter lending conditions and challenges in securing institutional funding. “The combination of public funding and high-growth submarket is the same recipe JPI recently used to help finance the development of Jefferson Ownsby, a 436-unit apartment complex it’s building in Celina. JPI landed $23.5 million in C-PACE funding, the state policy-enabled green lending program, for the project at 317 East Ownsby Parkway.”
Despite broader market softness—with average monthly rents for Dallas-Fort Worth multifamily properties falling by 0.4 percent between Q2 and Q3 of 2025—Frisco remains an attractive location due to its robust population growth. According to BridgeInvest’s release, Frisco’s population increased by 6.9 percent in 2024.
Stryker Properties is based in Plano and specializes in multifamily syndication, while Griffon Capital Management is headquartered in Corpus Christi.
