Two homebuilding companies are teaming up on a major residential community northeast of Dallas.
Plano-based Green Brick Partners Inc. and builder Meritage Homes have purchased sites for more than 1,800 houses in the Collin County town of Farmersville.
Located northeast of Lake Lavon, the area around Farmersville is seeing an influx of land developers looking for new home sites.
Green Brick Partners and Meritage plan to start construction early next year on the 453-acre property they just purchased south of U.S. Highway 380.
The new community will be called Lake Haven.
“We are thrilled to continue growing our presence in the area, and to provide homebuyers a fantastic opportunity to live in such close proximity to attractive amenities including Lavon Lake while maintaining easy access to major employment centers in North Dallas,” Jed Dolson, Chief Operating Officer and Executive Vice President of Green Brick Partners, said in a statement. “We have seen remarkable interest from buyers in our nearby Brookside and LakePointe communities, and knew that Farmersville was the next step in meeting the market’s growing need for quality homes.”
The planned Lake Haven community will include parks and trails, landscaped open spaces, and an amenity center with pool.
Green Brick plans to offer houses in the project built by its Trophy Signature Homes, which sells houses in multiple Dallas-Fort Worth communities ranging in price from the low $300,000s.
Home sales in the community will start in late 2023.
Meritage Homes plans to build 919 houses in the project.
“We are looking forward to diversifying our geographic footprint and product mix across Dallas-Fort Worth,” Austin Woffinden, Dallas division president at Meritage Homes, said in a statement. “With a diverse range of homes at affordable prices, Meritage Homes is building quality, energy-efficient homes while meeting consumer demand for a variety of lifestyle preferences.”
News of the new Farmersville community comes just a week after Green Brick said it had purchased more than 5,700 home building sites in Frisco, Allen, McKinney, Forney, Princeton, Grand Prairie and Waxahachie.
Green Brick’s North Texas home brands include Green Trophy Signature Homes, CB JENI Homes, Southgate Homes, Centre Living homes and Normandy Homes in North Texas.
Green Brick Partners also owns housing companies in Georgia, Florida and Colorado.
Meritage is based in Arizona and sells houses in almost two dozen D-FW area locations.