The first phase of housing in the Gateway Parks master-planned community in Forney, TX, near Dallas, will be built by David Weekley Homes, Gehan Homes and Horizon Homes, according to the Dallas News.
The companies will build a proposed 439 single-family homes, which will include one- and two-story houses between 1,800 square feet and 3,500 square feet, priced from the mid-$200,000s.
- In total, developer Gateway Holdings' $1 billion, 2,000-acre MPC will include more than 1,800 single-family homes, a 40-acre retail center, trails and parks and more than 1,300 acres for office, hotel and commercial properties.
The three builders selected for the first phase of Gateway Holdings’ development are set to break ground soon, and the homes are expected to be available for sale early next year.
The project is the latest in a line of MPCs under development across the country, responding to the recent trend among homebuyers seeking neighborhoods that contain a diversity of housing, light retail and other amenities within walking distance but aren't in pricey urban centers.
Texas, in particular, is seeing firming demand for this type of development in key metro areas. Last month, Republic Property Group named the first four builders for its 7,200-acre Walsh MPC in Fort Worth, TX, which boasts a first phase expected to include 580 homes along with a 10,000-square-foot gym, a pool and hiking trails. Meanwhile, Newland Communities recently opened the 3,600-acre Elyson MPC west of Houston that includes space for 6,200 homes, a light commercial core, trail system, fitness center and café.
Data also points to the upswing in homebuilding activity in Texas. A recent analysis of Bureau of Labor Statistics data from ABODO puts Houston at the top of the list of markets for construction employment while real-estate research firm RCLCO noted strong activity in the single-family category across Texas.
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