A vacant two-story office building near Richardson's Telecom Corridor is being torn down to make room for hundreds of new apartments. Legacy Partners has broken ground on the 10.4-acre site at 250 E. Arapaho Road, with the project expected to bring well over 400 new residences to an area increasingly known for converting old office space into housing.
The project, known as Legacy Arapaho, is a joint venture between Legacy Partners and equity partner CrossHarbor Capital Partners, according to Connect CRE, which reported the partnership closed on the site using a construction loan from First United Bank of Durant, Oklahoma. The outlet described the development as a 444-residence apartment community, while Community Impact had previously reported that the Richardson City Council approved a 443-unit version of the proposal during its Feb. 10, 2025 meeting. The exact final unit count remains unclear amid the discrepancy between the two reports, though both place the project in the low 440s. The Dallas Business Journal reports the project will add more than 400 apartments to the area near Richardson's Telecom Corridor and Innovation Quarter, with architectural work credited to JHP Architecture / Urban Design.
Office Building Coming Down
The existing vacant two-story office building on the site is being demolished to make way for the new apartments, the same report from Connect CRE notes. Rampart Multifamily, Inc., based in Grapevine, is serving as the general contractor on the project, per the outlet's reporting.
Connect CRE's report indicates the project recently broke ground, with leasing and initial occupancy anticipated to begin in spring 2028 and final completion expected by spring 2029. Community Impact's earlier account of the council-approved plan described five buildings with one-, two- and three-bedroom units averaging 850 square feet.
Legacy's Third Richardson Project
Legacy Arapaho marks the developer's third apartment community in Richardson, according to the same Connect CRE report, which identified Ovation at Galatyn Park, which opened in 2024, and Galatyn Station — formerly known as The Venue — which opened in 2008, as the company's earlier local projects. The Dallas Business Journal's preview piece frames the new development as one expected to draw demand from surrounding businesses in the Telecom Corridor and Innovation Quarter area.
The project fits into a broader pattern in Richardson, where city officials have been pushing to convert outdated office stock into housing. Richardson City Manager Don Magner said the city is targeting unused or outdated office space for redevelopment to address housing needs, according to Community Impact's reporting. That strategy is playing out most visibly in the Collins/Arapaho corridor, where, per Richardson Today, a redevelopment effort covers a 1,200-acre section of the city's Telecom Corridor area.
A Cooling But Still-Building Market
Legacy Arapaho arrives as the Dallas-Fort Worth apartment market shows signs of stabilizing. Colliers reported that DFW multifamily fundamentals improved in the second quarter of 2026 amid strong demand, rising occupancy and rents, and slowing new supply, with the region's development pipeline contracting for a twelfth consecutive quarter — leaving 43,320 units under construction and 24,133 scheduled for completion over the next 12 months, per the firm's research.
Still, the broader statewide picture is mixed. The Federal Reserve Bank of Dallas has noted that Texas apartment vacancy rates have improved since peaking in mid-2024, even as rents continue declining in most Texas metro areas. Richardson's Telecom Corridor has seen this kind of apartment construction before — JPI's Jefferson Woods project, a three-story, 456-unit complex near Spring Creek nature preserve, broke ground in the same corridor and opened in summer 2018, according to a 2017 report from The Dallas Morning News.
