Parkspring Multifamily’s latest project shows growth in the Texas Triangle is taking hold in Waco, too.Â
The Austin-based developer purchased a 16.5-acre slice of the Cottonwood Creek mixed-use development for an apartment complex, according to a news release. Parkspring plans to build Commons at Cottonwood Creek, a 372-unit garden-style community.Â
The development, at 2221 Creekview Drive, will include one- and two-bedroom units. It will also feature amenities like a golf simulator, dog park, pool, fitness center and co-working space.Â
The development is Parkspring’s first foray into Waco. It’s bringing on Austin-based OHT Partners as the contractor for the project, which is expected to start construction in May and be delivered in the fourth quarter of 2026.Â
Cottonwood Creek, a 143-acre mixed-use development, features entertainment retail like Topgolf, Cinemark and Main Event. Station at Cottonwood Creek, a 260-unit apartment complex, was delivered in 2017, and 200 built-to-rent homes are also in the pipeline.
The development is just off Interstate 35, less than five miles south of Baylor University and downtown Waco.Â
Waco is about half-way between Dallas-Fort Worth and Austin along I-35. The city of about 145,000 people has grown in population by 16 percent since 2010, adding more than 20,000 residents.Â
As growth grips the major metros in the Texas triangle, Waco has also caught the attention of developers. The city is in the middle of coming up with a plan to redevelop its downtown. The decadeslong project is expected to cost $2 billion.Â
The redevelopment plan covers 100 acres along the Brazos River and includes a campus for City Hall and the Waco Independent School District, plus a convention center, ballpark and town square.Â
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