New apartment construction cost

[Nick B.]

Hello BP!

I am looking for first hand information about new apartment construction cost in Texas (preferably in DFW).

If anyone has been involved in new development or knows somebody who has, please let me know a typical cost per unit or per sqft.

Thank y'all
Nick

[Nick B.]

Just to clarify, I have an opportunity to invest in a new A class development but their cost is $92K/unit including land. The number seems to be low that's why I asked. The land should relatively cheap as this is a small city (pop. 30K) on the outskirts of DFW.

The developer of this project is not completely new but not a big one either.