Trinsic Residential Group is moving forward with plans for a new apartment complex in Mesquite, Texas. The Dallas-based developer has filed with the state to build Aura Fairways, a 300-unit multifamily project expected to cost $28 million. Construction is scheduled to begin in November, with completion targeted for the end of 2027.
The planned development will cover 296,000 square feet at 5201 Northwest Drive, located about five miles from Lake Ray Hubbard and approximately 15 miles northeast of downtown Dallas. Mesquite has a population nearing 150,000.
The multifamily sector in the Dallas-Fort Worth area has faced challenges recently. Rising interest rates have increased development costs while an influx of new apartments has contributed to lower rents and occupancy rates. According to Yardi Matrix data from May, average rents in Dallas-Fort Worth fell by 1.5 percent year-over-year, and the region’s occupancy rate stood at 92.6 percent—ranking third-lowest among the nation’s largest cities (https://www.yardimatrix.com/).
Industry experts expect that the current slowdown in construction could help stabilize or increase rents by late 2025 or into 2026. This potential upswing may benefit projects like Aura Fairways as they approach completion.
Trinsic Residential Group was established in 2011 by CEO Brian Tusa and COO Joe Barrett. The company operates across several states including Arizona, North Carolina, Colorado, Florida, Virginia, and Texas.
Besides Aura Fairways, Trinsic has five other projects underway in the Dallas-Fort Worth metroplex: 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).
