Sales at The Stretford at the Cascades are underway for the first time in five years, with condominium homes priced from the mid-$200,000s.
According to a release from The Stretford, a new partnership was formed to repair and improve the property, and to re-launch sales.
The recent recession hit The Stretford hard, with numerous foreclosures and other financial problems.
But now ERA Property Shoppe, Weslin Capital LLX and TEXLA Housing Parnters, Inc. have stepped in with investment capital.
"While the building was not operating up to its potential, I was confident if we invested in the building properly, we could turn The Stretford into the unique luxury residential building that it was intended to be," said Reagan Shanley of Weslin Capital.
"I couldn't be happier with the changes that have taken place over the course of the past year," said former Smith County Sheriff J.B. Smith, a Stretford homeowner since 2009. "We've been living in a building that needed improvements for years, and we're extremely lucky to have someone with the resources and the knowledge to bring this building back to the luxury level that we've always envisioned."
The partners in November filed a building permit for $6.2 million worth of work on The Stretford.
A Grand Opening Weekend is slated for March 28-29. The sales office is open seven days a week at 2801 Wexford Drive.
Two-bedroom units range from about 2,000 square feet to 2,339 square feet and are priced from $250,000 to $425,000.
For more information, visit www.thenewstretford.com.