Thursday, October 4, 2018
The old zoning would have allowed more than 600 apartments at Eldorado Parkway and Coit Road. But Plano-based builder and developer Green Brick Partners now has the green light to build a neighborhood of townhouses and patio homes. The Park Vista community will include more than 300 homes built by Green Brick firms Normandy Homes and CB Jeni Homes and starting near $330,000. The approved plan calls for 7 acres of open space in four small parks. Homes in the development are planned in a combination of Georgian, Craftsman and Colonial styles. On Panther Creek Parkway, Green Brick’s Northwood community is also in the planning stages. It will offer 168 single-family homes starting at more than $500,000.
Hillwood Communities has broken ground on a 1,157 acre development in the town of Northlake on FM 407 near Interstate 35W. The first phase of a $1.5 billion Phase I will offer the initial 630 homes, and in all more than 3,000 new homes are planned at Pecan Square.
Homes at Pecan Square will be priced from the mid-$200,000s to more than $500,000. Builders in Pecan Square include Ashton Woods, CalAtlantic Homes, D.R. Horton, David Weekley Homes, Highland Homes, Perry Homes, Plantation Homes and Pulte Homes. The first houses will be ready in late 2019.
Pecan Square will include a community center with a lounge, resort-style pools, event areas, green space, fitness center and working office center. An existing horse arena will be rebuilt as a location for community gatherings and special events.
Monday, July 2, 2018
By Richard Harrison, Rick Harrison Site Design Studio
In any space planning process, there is the actual space that can be measured on a plan, and also the perceived space to consider.
Ground was broken on the North Texas Municipal Lake dam. The reservoir, set to cost $1.6 billion, is the first major North Texas Municipal Water District (NTMWD) project in almost 30 years. The NTMWD was founded in the 1940s by 10 small communities – Farmersville, Forney, Garland, McKinney, Mesquite, Plano, Princeton, Rockwall, Royse City, and Wylie — to create a unified water source to support their fast-growing communities. In addition to providing an important source of water, the new lake is also anticipated to provide a host of recreational opportunities, as well as habitat for wildlife — another potential boon for developers.
Today, the water district serves 13 cities and 1.7 million residents, a number that’s expected to double over the next 50 years. The 90-foot dam will create the new 16,641-acre lake capable of storing 367,500 acre-feet of water (120 billion gallons). Construction should take three years. Operation is anticipated to being in 2022, counting on two years of rainfall to fill the lake to an operation level. After double-digit percent price gains in recent years, North Texas home appreciation has slowed significantly in recent months.
Dallas-based JMJ Development plans to develop 378 single-family residential lots in Dallas County at Seagoville Farms, an 89-acre project located along Seagoville Road and Myers Road. This affordable, single-family development will be built in three phases, consisting of 50-foot, 60-foot and 70-foot lots.
Mehrdad Moayedi of Centurion American Development Group has purchased Valley Ranch, the former Dallas Cowboys compound in Irving, which was built in the 1980s and has been empty since the football team moved to its practice facilities to The Star in Frisco in 2016. Centurion plans to turn Valley Ranch into a high-density housing community with streets in the neighborhood names after legendary Cowboys players. Called Legends Crossing, the new neighborhood will have about 282 homes. The townhouses in the new project will start for less than $250,000 with large villas priced near $450,000.
Arizona-based Taylor Morrison Home Corp. which owns Darling Homes, currently builds more than 600 houses a year in the Dallas/Fort Worth area. And a new partnership between Taylor Morrison and another Arizona homebuilder, AV Homes, will ramp that number up even more, according to a recent news announcement in the Dallas Morning News. The merger is expected to close before the end of the year. AV Homes purchased local builders Oakdale Homes and Hampton Homes last year. Together, these builders start about 157 houses a year. Between the activity of Darling, Oakdale and Hampton, Taylor Morrison is expected to become the 10th largest home builder in the DFW market.