Here are major residential developments coming in the suburban Dallas/Fort Worth:
Fields in Frisco
Taylor Morrison Homes is the first builder to offer homes in the $10 billion Fields community in northern Frisco.
The Arizona-based builder confirmed on its website and social media that it has purchased sites for nearly 500 single-family homes in the 2,544-acre development on the Dallas North Tollway in Collin and Denton counties. The builder purchased the sites from Dallas-based Hunt Realty Investments and Plano-based Karahan Cos.
Taylor Morrison, which has a portfolio of Dallas/Fort Worth developments in its portfolio, will build in the Brookside neighborhood on the north side of Panther Creek Parkway east of Legacy Drive.
Fields will be developed into a mixed-use, master-planned community. The project is planned to include as many as 14,000 homes and apartments and commercial space.
“We’ve done everything we could to preserve the character of the land — the little lakes, creeks, and hills,” Karahan Cos. developer Fehmi Karahan told The Dallas Morning News. “We have pocket parks everywhere.”
Karahan developed the $3 billion Legacy West project in Plano and the Legacy Town Center mixed-use project on the east side of the Dallas tollway.
Build-to-Rent Subdivision in Royse City
Nashville-based Kinloch Partners has purchased multiple lots with plans for a 500-home build-to-rent subdivision in Royse City.
Homes will range from 2,000 to 3,000 square feet and are priced from $200,000 to $300,000. The homes will be built in the next 18 months.
“Dallas has a high-growth trajectory with a stable workforce, but like many markets across the country, affordable housing remains a challenge,” Bruce McNeilage, co-founder and CEO in Kinloch Partners, said in a statement. “SFR Build-to-Rent homes provide an affordable option for people who want a single-family home, but might find it challenging to find the right home for purchase.”
Lenox Lake Highlands
Construction has started on a 403-unit multifamily rental community called Lenox Lake Highlands on the northeast corner of Skillman Street and Walnut Hill Lane, according to Austin-based builder OHT Partners.
OHT Partners has been busy in the Dallas area as of late. The builder recently completed the Lenox Maplewood community on Denton Drive in the Dallas Medical District and is constructing the 435-unit Lenox Crown community in Garland the 293-unit Lenox Oak Lawn on Oak Lawn Avenue next to the Warwick Melrose Hotel.
The Lenox Lake Highlands apartments are scheduled to open in summer 2022 as part of a 70-acre mixed-use development that has been under construction for more than a decade.
Lenox Lake Highlands will provide access to the adjacent Dallas Area Rapid Transit Lake Highlands station as well as the Lake Highlands Trail, which is expected to be extended to connect to the property and White Rock Creek Trail by 2023, according to an OHT Partners release.
“Residents can enjoy the best of Lake Highlands or easily hop on a train and travel downtown in 30 minutes from the transit station next door,” OHT Partners managing director Howell Beaver said in a statement.
OHT purchased the 16.7-acre property in 2021. The site includes five acres zoned for residential and commercial uses that the firm plans to develop in a second phase.
Lenox Lake Highlands will have one-, two-, and three-bedroom apartments ranging in size from 600 to 1,640 square feet with carports and private yards available.
Gateway Parks in Forney
Residential development continues east of Dallas with Atlanta-based Ashton Woods purchasing a 344-acre tract for more than 1,000 homes in Forney’s Gateway Parks community in Kaufman County.
The purchase included land for 1,030 single-family homes and 88 completed home sites. Highland Homes, David Weekley Homes, and Tri Pointe Homes have residences under construction in the development, which is 22 miles east of downtown Dallas off U.S. 80.
According to Gateway, 62 percent of new-home sales in Kaufman County are in Forney.
