New Forney community will bring 2,000 homes - The Dallas Morning News

A new community on the way in Forney will include 2,000 new homes.

Houston-based developer Hines has purchased the more than 600-acre High Point Ranch property on U.S. Highway 80.

The big residential project will be developed in nine phases starting late this year, according to Hamilton Realty Finance, which arranged funding for the deal.

Hines obtained more than $12.9 million in financing to purchase the property and pay for predevelopment costs, according to the lender.

“Hines plans to break ground on the first phase of lots in the fourth quarter,” said Hines’ Greer McDowell. “The community will feature an amenity package including a pool and clubhouse overlooking a lake, hiking and biking trails along the creek, and pocket parks throughout the community.”

The first phase will be sites for about 200 homes. The entire project will be developed over 10 years, said McDowell.

The Forney area just east of Dallas has been one of the top new home sales and start markets in North Texas in the last couple of years. Communities with some of the largest volumes of home purchases are located in Forney.

Developer Hines is best known for huge projects, including the real estate firm’s new Victor apartment tower near downtown Dallas and the landmark Dallas Galleria shopping mall on LBJ Freeway.

But the international real estate firm has also developed multiple D-FW residential communities during the last decade.

Hines’ new High Point Ranch development in Forney will be a welcome addition to the D-FW housing market, where builders are unable to keep up with demand for new homes.

During the first quarter of 2021, homebuilders in North Texas started more than 15,000 single-family homes — a 41% increase from year-earlier starts.

The High Point Ranch property acquisition and development was financed with more than $12.9 million in loans.(Hamilton Realty Finance )

Adblock test (Why?)

"bring" - Google News
June 11, 2021 at 10:27PM
https://ift.tt/3zlNr7V

New Forney community will bring 2,000 homes - The Dallas Morning News
"bring" - Google News
https://ift.tt/38Bquje
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini