A new wave of apartments could be headed for Farmers Branch, with an Austin developer teeing up plans for a five-story, Class A community on a five-acre site just west of the Dallas North Tollway.
The project, branded Lenox Alpha, is slated for 4707 Alpha Road and is pitched as a wrap-style, five-story complex with roughly 391 apartments. State filings outline a construction window of about two years if the timeline holds.
According to The Real Deal, the Austin-based developer listed Lenox Alpha as a $48 million, 332,495-square-foot project, with construction scheduled to start in September 2026 and wrap in September 2028. The outlet reports that OHT acquired the five-acre tract from Ginco Investments in 2022 and that the filing was made with the Texas Department of Licensing and Regulation.
Project specifics and earlier pipeline listings
An earlier entry in Berkadia's Dallas construction pipeline also flagged Lenox Alpha at 4707 Alpha Road, pegging the plan at roughly 406 units. The updated state filing with a lower unit count is a reminder that layouts and final numbers often shift between early market reports and formal regulatory paperwork.
Market backdrop
The timing is not exactly a developer free-for-all. Yardi Matrix data put DFW occupancy around 92.6 percent in 2025, leaving more open units than in tighter apartment markets. At the same time, Colliers' Q4 2025 multifamily report shows that new construction has been contracting for more than a dozen quarters, a slowdown that has pushed many developers to trim or delay projects.
OHT’s footprint in North Texas
OHT uses the Lenox flag for its Class A communities and has rolled out multiple Lenox projects around Texas, including a recently renamed community in Carrollton. The developer’s OHT Partners development page highlights several Lenox properties and recent groundbreakings, suggesting the Farmers Branch proposal slots into a broader pipeline strategy rather than a one-off bet.
Next steps
OHT told The Real Deal that Texas Department of Licensing and Regulation filings are typically made very early in a potential project’s life and are subject to change. City approvals, design tweaks and shifting market conditions will ultimately determine whether Lenox Alpha breaks ground on the proposed September 2026 schedule.
