Toll Brothers Apartment Living® Hosts Grand Opening of Aster, Firm’s New Flagship High-Rise Apartment Building in Dallas

Rhea-AI Summary

Toll Brothers Apartment Living has announced the grand opening of Aster, a new 22-story luxury apartment building in Dallas, TX, featuring 270 units. This project marks the firm’s ongoing expansion in Texas, with plans for nearly 3,000 additional residences across eight projects by the end of 2022. Aster offers high-end amenities, including a fitness center, concierge services, and a sky lounge, and has been designed to enhance the residential neighborhood experience. The company is ranked 11th among multifamily developers in the U.S., having experienced a remarkable growth rate of 416% in 2021.

Positive

• Opened Aster, a 22-story luxury apartment building with 270 units, enhancing market presence in Texas.
• Plan to begin construction on nearly 3,000 residences across eight projects in Texas by the end of 2022.
• Achieved 416% growth in construction of new units in 2021 compared to the previous year.
• Ranked as the 11th largest multifamily developer in the U.S. in 2022 by NMHC.

Negative

• None.

The 22-story, 270-unit luxury apartment building represents the firm’s continued expansion in Texas

FORT WASHINGTON, Pa., May 12, 2022 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, announces the grand opening of Aster, the company’s new 22-story, 270-unit luxury high-rise apartment building in the Turtle Creek neighborhood of Dallas, TX.

The firm recently hosted a grand opening celebration at the property with senior executives from Toll Brothers and its Apartment Living division, along with Aster’s development partners, leaders of local civic and neighborhood associations, local elected and appointed officials, and members of the media. Following a cocktail hour, opening remarks, and exclusive tours, the celebration continued with a party for current Aster residents.

“As our flagship new community in Texas, Aster stands tall as the premier rental community in the Turtle Creek and Oak Lawn neighborhoods,” said Charles Elliott, President of Toll Brothers Apartment Living. “Aster represents the very best of what Toll Brothers Apartment Living stands for — from its design and brand to its exceptional resident experience. This project embodies a new standard of luxury development that we will build upon with several upcoming projects throughout Texas, and elsewhere across the United States.”

Designed by WDG Architecture, the 22-story, 270-unit luxury high-rise apartment building is situated on Congress Avenue between Oak Lawn Avenue and Turtle Creek. Aster’s construction began in 2019 and was completed in 2021, offering first occupancy in October. With a name inspired by the iconic Texas wildflower, Aster draws on deep roots in Dallas history while also joining the prestigious Turtle Creek neighborhood with a vibrant, sophisticated new persona.

“Aster is located in a decidedly different area from the busy commercial districts in which many others are building,” said Tommy Rhodus, Texas Regional Director of Toll Brothers Apartment Living. “Instead, Aster sits in a much quieter and more established residential neighborhood. We focused intently on designing a neighborhood-scale building by setting it back and surrounding it with townhome-style apartments along the street and a corner park.”

Aster includes 260 studio, 1-, 2-, and 3-bedroom residences, as well as 10 2-story penthouse residences, about 20,000 square feet of interior and exterior amenity space, and a 6-level above- and below-grade structured parking garage with 418 spaces, including 14 EV charging stations. Throughout the property residents enjoy custom lighting, high-end finishes, secure keyless entry, and Wi-Fi.

First- and second-floor amenities include a concierge lobby, conservatory, library, package room, and pet spa. On the fourth-floor amenity deck, residents can enjoy a clubroom bar and lounge featuring a fully equipped kitchen, 2-story fitness center, coworking space, and exterior amenity deck featuring a pool with infinity-edge water feature and custom trellis with waterfall feature, grill stations, outdoor lounge seating and lawn games. On the seventeenth floor, resident amenities include a sky lounge with expansive views of the Dallas skyline, private dining room, sky deck with lounge seating and television, and sports lounge with multi-sports simulator.

The apartments feature luxurious wide-plank walnut flooring, quartz countertops, Calacatta marble backsplashes, European-style cabinets with soft-close doors and drawers, stainless steel appliances, custom lighting fixtures throughout, manual roller shade window treatments, walk-in closets, smart thermostats, and private balconies and terraces. Exterior-facing units feature private fenced yards.

Penthouses located at the top of the tower introduce 2-story floor plans with double-height living and dining areas and floor-to-ceiling glass windows, appliances from Sub-Zero and Wolf, faucets and plumbing fixtures from Brizo, contemporary apron-front kitchen sink, wet bar with wine chiller, spa-inspired showers and freestanding bathtubs, and mechanical roller shades window treatments in living, dining, and primary bathrooms.

Aster is the third project completed by Toll Brothers Apartment Living in Texas, following Kilby in Frisco and Westerly in Dallas, both of which were sold in 2020 and 2021 respectively. Aster represents the continued rapid expansion of Toll Brothers Apartment Living in Texas, with the firm currently poised to begin construction on nearly 3,000 residences across eight projects anticipated to be actively under construction across the state before the end of 2022.

In 2021, the firm’s platform expanded dramatically nationwide, as well. Toll Brothers Apartment Living began construction of 3,621 units located in more markets than ever before, an increase of 416% over the previous year, which marked the greatest single-year growth period in its history. Toll Brothers Apartment Living is ranked as the 11^th largest multifamily developer in the United States by the National Multifamily Housing Council’s (NMHC) 2022 NMHC 50.

About Toll Brothers Apartment Living®

Toll Brothers Apartment Living is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), an award-winning FORTUNE 500 company, and the nation's leading builder of luxury homes. Toll Brothers Apartment Living brings the same quality, luxury, and service for which Toll Brothers is known to its exceptional rental and mixed-use communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix, and Washington, DC. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of America’s Luxury Home Builder®. In 2022, NMHC ranked Toll Brothers Apartment Living the 11th largest apartment developer in the United States. Today, the firm has developed nearly 8,500 units, has nearly 4,500 units under management, and controls a national pipeline of more than 20,500 units. For more information visit TollBrothersApartmentLiving.com.

About Toll Brothers

Toll Brothers, Inc., a FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded 55 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.

Toll Brothers was named the World’s Most Admired Homebuilder in FORTUNE magazine’s 2022 survey of the World’s Most Admired Companies®, the seventh year it has been so honored. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.

©2022 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of, Toll Brothers.

Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG) 

###

Attachment

• Aster by Toll Brothers Apartment Living

FAQ

What is Aster by Toll Brothers Apartment Living?

Aster is a 22-story luxury apartment building in Dallas, TX, featuring 270 units.

When did Toll Brothers announce the grand opening of Aster?

The grand opening of Aster was announced on May 12, 2022.

How many units does Aster include?

Aster includes 270 units, comprising studio, 1-, 2-, and 3-bedroom apartments.

What significant growth did Toll Brothers Apartment Living achieve in 2021?

In 2021, Toll Brothers Apartment Living achieved a growth rate of 416% in construction of new units.

Where is Aster located?

Aster is located in the Turtle Creek neighborhood of Dallas, Texas.

What future projects does Toll Brothers have in Texas?

Toll Brothers plans to begin construction on nearly 3,000 residences across eight projects in Texas by the end of 2022.

What amenities does Aster offer?

Aster offers luxury amenities such as a fitness center, concierge services, a clubroom, and a sky lounge.