Wood Partners Launches Alta Preserve, Third Multifamily Phase at The Farm in Allen

Another Rental Community Slated for The Farm in Allen
CRE Market Beat Take
The third multifamily phase at The Farm adds to a sizable residential pipeline that may increase competitive pressure on rents and lease-up for nearby assets as it delivers.

Wood Partners is moving forward with Alta Preserve, a new rental community planned within The Farm, a large mixed-use development in Allen. The community will rise inside the 135-acre project, which is positioned along SH 121 and is being built out with a combination of residential, office, hospitality, retail, and open space.

Alta Preserve represents the third phase of Wood Partners’ multifamily activity at The Farm. The firm previously delivered Alta at The Farm, which opened in 2023, and completed Alta Magnolia in the following year, extending its presence within the master-planned project. With the addition of Alta Preserve, Wood Partners continues to expand the community’s rental housing options as the overall development progresses.

The plans for Alta Preserve call for a range of resident-focused amenities. The community is expected to include an indoor and outdoor skydeck, a resort-style pool, a golf simulator, and a dry sauna. Pet amenities will feature a dog park and a dedicated dog wash station. The project also incorporates a club and fitness studio, as well as individual micro-office and fitness locations on each floor, reflecting demand for flexible work and wellness spaces within multifamily environments.

Alta Preserve is scheduled to deliver in the second quarter of 2027, adding another phase of housing to The Farm’s larger residential program. The timeline positions the asset to come online as the broader mixed-use project continues to mature and additional components are completed and occupied over the next several years.

Beyond Alta Preserve, The Farm is planned as a full-scale destination with a mix of uses designed to serve residents, workers, and visitors. At full build-out, the project is expected to offer restaurants, office space, residential units, a hotel, and a 2.5-acre lake with trail access. These elements are intended to support both daytime and evening activity, providing amenities that complement the community’s housing offerings.

When the overall project is completed, The Farm is slated to include a total of 2,400 urban residential units and more than 1 million square feet of office space. Alta Preserve forms part of this larger pipeline of multifamily development, contributing to the long-term build-out of the master-planned environment and reinforcing Wood Partners’ role as a key multifamily developer within the project.

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