Trinsic Residential Group is planning to build a 300-unit apartment complex in Mesquite, a suburb of Dallas. The project, called Aura Fairways, is expected to cost $28 million, according to state filings that may be updated. Construction is scheduled to begin in November with completion targeted for the end of 2027.
The planned development will cover 296,000 square feet at 5201 Northwest Drive, located about five miles from Lake Ray Hubbard. Mesquite sits approximately 15 miles northeast of downtown Dallas and has a population nearing 150,000.
Recent market conditions have made multifamily development more challenging. Higher interest rates have increased costs for developers, while an influx of new apartments has led to lower rents and occupancy rates. As a result, many developers have reduced their activity in building new apartment complexes.
According to Yardi Matrix data from May, the Dallas-Fort Worth area experienced a year-over-year rent decrease of 1.5 percent and an occupancy rate of 92.6 percent—ranking it third-lowest among the country’s thirty largest cities.
Industry experts anticipate that the slowdown in new construction could help stabilize or increase rents by late 2025 or into 2026. This timing may benefit projects like Aura Fairways as they come online during a potential upswing in rental demand.
Trinsic Residential Group was established in 2011 by CEO Brian Tusa and COO Joe Barrett. The company operates across several states including Arizona, North Carolina, Colorado, Florida, Virginia, and Texas.
Besides Aura Fairways, Trinsic has five other projects underway in the Dallas-Fort Worth region: Aura McKinney II (311 units), Aura Crown Heights and Aura Crown Center III (each with 300 units), Aura Southgate II (303 units), and Aura Northline (305 units).
