KATY - Global Growth Trust Inc. and Trinsic Residential Group purchased 14.45 acres of land for $2.95 million.
The joint venture will develop, construct and operate a Class A, 291-unit, three-story residential apartment building on the property, which will be known as Aura Grand Corners.
The total budget for the project is approximately $31.8 million.
Construction will start on or before February 1, 2013, and will be completed within 20 months. Completion is targeted for second quarter 2014.
Source: Global Growth Trust Inc.
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