Morgan Group is pressing ahead with Pearl Landing, a 403-unit mixed-use apartment community slated for a long-vacant 10.5-acre parcel at 1101 West Royal Lane in Irving. Plans call for ground-floor retail beneath several hundred apartments, plus resident amenities that include fitness space and a pool. The project is being pitched to feed off the Las Colinas employment corridor that surrounds State Highway 161.
What Morgan Is Proposing
According to The Real Deal, filings with the Texas Department of Licensing and Regulation list Pearl Landing at about 751,579 square feet, with an estimated construction budget of roughly $68 million for 403 apartments. The filing points to a projected construction start this October and a targeted completion in March 2029, and identifies the parcel as owned by Atlanta-based Piedmont Realty Trust. The Real Deal also notes a street-level restaurant element in the applicant's materials and stresses that TDLR filings are preliminary and subject to change.
Rezoning And City Approval
City records show that the Irving city council signed off on a change to the comprehensive plan and an S-P-2 mixed-use zoning overlay for the property in August 2025, shifting the future land use from "Business/Office" to "Community Village." Irving City Council minutes record the comprehensive-plan amendment passing 6–3, with the S-P-2 zoning overlay approved 7–2. That combination clears the way for lower-intensity mixed-use development and requires ground-floor commercial space in the Highway 161 overlay. Planning staff presented Pearl Landing as a single-phase concept with integrated parking and live-work or retail areas designed to meet the overlay's commercial thresholds.
Site, Ownership And Neighbors
Public listings put the site at roughly 10.49 acres, per Compass, and mapping places the lot directly along State Highway 161 near existing office buildings. The Real Deal reports that Atlanta-based Piedmont Realty Trust is the current owner. The location is flanked by corporate campuses: McKesson lists its principal executive office at 6555 State Hwy 161 in Irving in an SEC filing, and Vistra shows its corporate headquarters in Irving on its Vistra operations page. Those nearby employers are a key part of the renter base Morgan is aiming to capture.
Rents And Market Context
Market data suggest that North Irving is a sharply bifurcated apartment market that developers watch closely. Colliers Q4 2025 multifamily report indicates that Class A asking rents in North Irving top roughly $2,300 per month, while Class C units average about $1,100. That spread highlights the wide range of demand across the Metroplex and helps explain why professionally managed projects near major employment centers remain attractive even as new supply and absorption trends shift.
Developer And Timeline
Morgan Group describes itself on its website as a vertically integrated developer, builder and manager with thousands of units in its pipeline and dozens of completed communities across Sunbelt markets. Its portfolio includes multiple "Pearl"-branded communities and other multifamily projects in Texas and Florida, so the Irving plan fits into a broader regional growth strategy rather than a one-off bet. If approvals and permitting stay on track, the firm expects to move from design and entitlements into site work ahead of an anticipated October 2026 construction start.
What Comes Next
With zoning in place, Pearl Landing still has to clear detailed site-plan review, building permits and utility coordination before vertical construction can begin. The figures circulating so far are drawn from preliminary filings and local presentations, so the final unit mix, size of the retail component and exact timing could shift as Morgan refines its plans and pulls permits. Neighbors, prospective renters and nearby employers should expect to see permit filings and early construction notices over the next year as the developer moves closer to mobilizing on the site.
