Zale to Launch 325-Unit Allen Rental Community

Zale Properties plans to develop The Monarch at the intersection of Alma Road and State Highway 121 in Allen. Kennedy Wilson arranged a four year loan for Zale. A JLL debt advisory team led by John Brownlee, Bo Beidleman, Chad Lisbeth and Jordan Buck secured the loan.

The 325-unit complex will feature a mix of one-, two- and three-bedroom units with an average size of 931 square feet. The Dallas Morning News reports the development cost is estimated to be about $75 million. The 302,696-square-foot building is expected to be delivered in the first quarter of 2027.

The 4.7-acre site is part of The Avenue, an 80-acre mixed-use development that will include 1 million square feet of office space, 275,000 square feet for retail, dining and entertainment; 65 single-family homes, about 1,600 urban residential units and three hotels when completed.

The Avenue is spearheaded by McKinney-based Thakkar Developers. It will be located across Alma from McKinney’s Hub 121, another major mixed-use project.