Builders of a single of Collin County’s newest residential communities program to build websites for 1,200 households in the initial section.
The 1,100-acre Painted Tree community is under building north of U.S. Highway 380 in McKinney.
In early 2020, New York-based JEN Partners and Dallas’ Oxland Advisors acquired the land for the big advancement from Brinkmann Ranches.
Plans for the challenge call for 3,400 houses as well as miles of paths and trails, swimming pools and playgrounds. The first sections of Painted Tree will open up future calendar year.
“This is the major initial section shipping and delivery of a lot in the Dallas-Fort Worthy of place,” Tom Woliver, co-president and founder of Oxland Group, said in a assertion. “This supply will enable give a option when need is outpacing source at document levels in North Texas. It will also provide as a worthwhile stepping stone for further development north.”
Oxland Group has now contracted to offer home web sites to builders together with Trophy Signature Homes, Normandy Properties, CB Jeni Properties, Tri Pointe Residences, David Weekley Houses, Highland Residences and Drees Custom made Properties.
The households planned in Painted Tree will commence around $300,000.
“Buyers should be inspired by the forthcoming offerings at Painted Tree,” stated Ted Wilson, principal at Dallas-based housing analyst Household Strategies Inc. “We anticipate the group to be a person of the top-carrying out grasp-planned communities in the D-FW region, and one particular that will see lengthy-time period progress in housing values.”
Demand from customers for new households in the D-FW region has soared this yr mainly because of a absence of pre-owned houses on the market.
North Texas house commences were up additional than 40% in the very first quarter from 2020 levels, according to Household Strategies.