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over2 Capital, a protégé of S2 Capital, is building the Wheelhouse project in North Richland Hills, a suburb just north of Fort Worth. The 277-unit multifamily development will feature 10,000 square feet of retail space and a three-story parking garage covering 130,000 square feet. Construction is set to begin in January with an estimated completion date of December 2026.

    The project's design firm is Moya Architecture Workshop, based in Dallas. Cover2 Capital acquired multiple parcels for the site early last year and secured funding from Druid Hills Capital, although the loan amount was not disclosed. The location offers easy access to Loop 820 and State Highway 183, about 15 miles from DFW Airport.

    North Richland Hills has a population of around 71,000, with over 90% of its land already developed. However, two new developments are underway: a Peppa Pig theme park and a 75-home neighborhood by Our Country Homes. Cover2 Capital is focused on high-growth markets in Texas, and Wheelhouse appears to be its first project. The company was founded by Blake Poston, who previously worked for S2 Capital's multifamily syndicator.