The highly-anticipated lagoon-themed development, The View at Sapphire Bay, is facing a setback as half of its 400-unit apartment complex suffered fire damage and will need to be demolished. Despite this setback, developers Zale Properties are confident that the remaining units will open on schedule.
Surrounded by a variety of amenities and attractions such as a Hyatt resort hotel, over 1,500 residential units and millions of square feet in commercial space including restaurants, retail stores and entertainment venues. Additionally there will be ample green space with parks and trails spanning over 20 acres along with a marina boasting 1,000 slips.
According to marketing materials from Dallas Business Reports , The View at Sapphire Bay had an estimated cost of $86.6 million. In May 2022 JLL Capital Markets secured $58.3 million in construction financing for the project through Principal Global Investors providing an eight-year fixed-rate loan for Zale’s apartment complex.
