Think the stakes aren’t high when it comes to DFW real estate? Tell that to two Dallas-based developers who are investing roughly $775 million to build out two new master planned communities in the area over the next five to seven years.
Having formed a new joint venture called Allegiant Realty Partners, the two companies are now currently working on bringing thousands of additional homes to the region, which happens to be one of the hottest markets in the entire state of Texas right now.
The first of the two new communities is ArrowBrooke, which will be located near U.S. 380 in Denton County. Plans for ArrowBrooke call for about 1,750 single-family homes over its 410 total acres, while homes here will be built by one of three local home builders: Beazer Homes, Horizon Homes, and History Maker Homes.
Bozman Farms, on the other hand, is an already existing community in Wylie just south of Lake Lavon, but the plan here is to expand it by about 800 single-family homes over 300 total acres. Once finished, it’s estimated that the Bozman Farms project will be worth around $250 million.
Currently, abut 200 homes are already under construction in Bozman Farms, with home builders here also being Horizon Homes and History Maker Homes.
Price ranges for each of these communities will range from $225,000 to $350,000, while community amenities are expected to feature playgrounds, walking trails, pools, and clubhouses.
So while headlines about home buyers flocking to downtown Dallas and other urban neighborhoods are fairly common these days, it appears the suburban DFW real estate market is equally just as hot, making for quite an exciting time when it come to the local housing industry here in North Texas.