Activity Report

Home Development Hotbeds:
South and East of Dallas, North and East Collin County, Fort Worth

UnionMain Homes, founded in 2017 by former Gehan Homes CEO Tim Gehan, has models open at its latest residential developments in the towns of Fate and Prosper.  The 161-acre Edgewater master-planned community along Farm Road 551, about a mile southeast of Interstate 30, in the Rockwall County City of Fate will include about 650 homes built by UnionMain, Grand Homes and Shaddock Homes priced from $474K.  The Dallas-based homebuilder is also developing the Hills of Legacy in Prosper, north of U.S. 380 in Collin County with homes starting from the $800s.

Meritage Homes will add 456 homes across three communities, all located in Melissa ISD in Collin County. Wolf Creek Farms, The Quarry at Stoneridge and Bryant Farms are set to open this year and early next year with homes starting in the $400s.

Shaddock Homes has acquired a 40-acre section of Devonshire in Forney, located off Highway 80 at FM 548, 25 minutes from downtown Dallas, where it will build homes priced from $400s.

Dallas-based Hoque Global announced plans to acquire 270 acres of undeveloped land next to the University of North Texas’ South Dallas campus near the intersection of Interstate 20 and Lancaster Road for University Hills — a community of hundreds of single-family homes, 1,500 apartments, 1.5 million square feet of commercial space and more than 50 acres of open green space.

Dallas-based PMB Capital Investments’ Bonds Ranch will build a 700-acre community in Fort Worth near the intersection of Bonds Ranch Road and Morris Dido Newark Road about 16 miles north of downtown Fort Worth.  Its master plan calls for 1,914 single-family homes, commercial space and 27 acres for rental houses, and more than 220 acres of open space with parks, ponds and trails. Adjacent to the site will be a future Eagle Mountain-Saginaw Independent School District high school.

LGI Homes’ Logan Square is its newest Metroplex community, located near Downtown Fort Worth just off of I-35, where homes will start from the $290s.  LGI has also started South Park Meadows, a new townhome community in Collin County’s Princeton, where prices will start from $360K.

North Texans will soon begin to see the name Sekisui House in Little Elm, Prosper and Richardson.  Japan’s leading homebuilder and leading diversified developer has entered into a definitive agreement with Chesmar Group, Inc. to acquire Chesmar Homes, LLC, a Texas-based homebuilder with operations in Houston, San Antonio, Austin and Dallas-Fort Worth.  The estimated purchase price of approximately $514 million also includes Chesmar’s CLM Mortgage, Inc. Entitled Insurance, Inc., and N Title, Inc. subsidiaries.  The Chesmar deal expands Sekisui’s footprint into four of the six largest housing markets in the U.S.

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