Like most developers, Tom Woliver is a professed data junkie. He doesn’t take that first step, of course, until the project’s feasibility is absolutely clear. Tens of millions of dollars are at stake during a struggling, pandemic-stricken economy.
So, it has to make perfect sense.
In the case of the vast 1,100-acre development that Woliver’s firm, Dallas-based Oxland Advisors, is putting together west of McKinney, this project checks all of the boxes. The 3,400-home development comes during a housing inventory shortage in North Texas while many people are evaluating their pandemic-related, stay-at-home situation.
With major projects announced in Fort Worth and McKinney in the past couple of weeks, Plano-based residential developer and builder Green Brick Partners is grabbing its share of the fast-growing North Texas new home market.
Green Brick will sell its Trophy Signature line at a large, new residential community in McKinney scheduled to launch next year north of U.S. Highway 380 near Lake Forest Boulevard. Green Brick has committed to 570 homesites at that community, called Painted Tree, and hopes to buy enough lots to build about twice that number, said Jed Dolson, chief operating officer for Green Brick Partners.
How much demand are you seeing for homes in the McKinney area, where Painted Tree will be?
Dolson replied “We are seeing very, very strong demand for anything under $400,000 right now. South of (Highway) 380, McKinney is almost completely built out now. So the natural progression is to move north of 380. This is a site where the sellers didn’t want to sell for a long time and now it’s been sold. We’re looking forward to it because it’s a lot closer-in than some of our other projects where we’re seeing really strong demand. We think people will want to live closer in and be closer to the amenities — all the shopping and the neighborhood services that this site has.”
A large, new residential community in McKinney is gearing up to get under construction next year, ultimately bringing about 3,400 homes with 25 miles of hiking and walking trails and a 200-acre greenbelt around a 20-acre lake.
The focus of Painted Tree will be on walkability and the outdoors, said Tom Woliver, president and partner of Oxland Group.
“What we’re offering as amenities will be a little bit different than a pre-COVID world,” Woliver said. “We’re looking at embracing an open, outdoor lifestyle. Your home, we’re envisioning, is your trailhead. People are going to be living at home, working from home, schooling from home, working out at home. We’re trying to design a community in a way where your home is not only your castle, but it’s really your community.”
Oxland plan to formally apply for zoning in upcoming weeks and start construction in 2021. Development plans call for preservation of much of the existing greenbelt, which includes mature trees and a natural trail system that will run through the heart of the community and connect to the city of McKinney’s Erwin Park and Bonnie Wenk Park.
A new community on more than 1,000 acres with 3,400 residences is being developed in McKinney.
Painted Tree will be located north of US 380 near Lake Forest Boulevard, offering houses ranging from detached townhomes and cottages to larger family homes and luxury estates. Oxland Advisors, a Dallas-based development and consulting firm, will develop the community.
“With anything this size, you want to provide homes that fit different demographics, different life stages, different price points,” Oxland founder Tom Woliver said.
“That’s what makes a good community,” Woliver said. “A community shouldn’t be exclusive to one. It needs to be inclusive to all. Really the only way to get through 1,100 acres is to have variety. So you need to have a little bit of something for everyone.”
Developers who just purchased one of the largest undeveloped properties in McKinney hope to start construction next year on a huge residential community.
“By the end of 2022, we could have our first residents living there,” said Oxland’s Tom Woliver. “This is the first major community in the region to be conceived of since the COVID-19 pandemic began, and our plans reflect the new reality for homebuyers.”
The community will focus on outdoor living, with 200 acres of greenbelt and parkland featuring 25 miles of trails and pathways. A 20-acre lake is at the heart of the community. “We want to invest in our parks and open spaces,” Woliver said. “We are trying to make every house the trailhead, to really focus on walkability and outdoors.”.
A community swimming pool is planned, and an open-air “trail outpost” will serve as a main gathering space for residents.
“Plans for the community are anchored in the reality that nature is the new luxury,” said Woliver. “As we have been forced to unplug from the previous busy-ness of our daily lives, many have sought refuge in nature.” Woliver said he wants the outdoor areas to have a national park feel.
A New York-based community builder and investor has purchased a huge McKinney development site.
JEN Partners has acquired more than 1,100 acres north of U.S. Highway 380 near Lake Forest Boulevard.
The property is one of the largest undeveloped tracts of land in that area of Collin County and is one of the biggest suburban land sales in North Texas this year.
JEN Partners purchased the big residential site from Brinkmann Ranches of Collin County, the longtime owner of the land.
Previous development plans for the property called for more than 3,000 homes.
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