New apartments are on the way in the old quarter of downtown Prosper

The historic district of downtown Prosper has a new apartment community.

An Alabama builder, Birmingham-based LIV Development LLC, is planning the rental project on Fifth Street near the iconic grain elevators in downtown Prosper.

The nearly $ 48 million development is expected to begin construction this summer, according to planning documents filed with the state.

Called Prosper Lofts, the property development will have 299 apartments and 20 rental townhouses. The project was designed by Florida-based architect Charlan Brock and Associates.

“The site is located along an old railway line in the industrial zone,” says the state planning document.

The construction of Lofts Prosper will take approximately two years.

The rental community will be the biggest addition in years to the original Prosper business district, which dates back to the turn of the 20th century and was built along the St. Louis and San Francisco railroad line.

Clustered along the railway line is the collection of huge metal grain silos that were for decades the largest structures in downtown Prosper. Several of the aging farm relics were recently demolished by owner Blue Star Land to make way for development.

LIV Development LLC has built more than 10,000 rental units valued at $ 2 billion in Southeastern and Texas. The builder has completed apartments in Fort Worth and Austin.

LIV Development projects in Texas include the Westhouse rental community in Fort Worth.
LIV Development projects in Texas include the Westhouse rental community in Fort Worth.(LIV Development)