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Land development company purchases part of Lakeside DFW
From staff reports
Realty Capital Management has announced the sale of 23.88 acres of land, in the northwest sector of the 150-acre Lakeside DFW development, to a local land development company for the first phase of single-family homes.
“We are very excited about this first sale which will kick off the long anticipated development of Lakeside DFW”, said Jimmy Archie, managing director of Realty Capital Management. “Attracting quality homebuilders to Lakeside is essential to the success of the project and we are very pleased to have American Legend Homes and Darling Homes as two of our single-family building partners,” he added.
American Legend Homes is owned by the Bright family, former owners of the Dallas Cowboys. Their homes at Lakeside will be priced from the low $400,000’s to the $600,000’s for four- and five-bedroom luxury homes with 2,400 square feet to well over 4,000 square feet. In 2012 American Legend Homes sold over 450 homes priced from the $200’s to over $1 million.
“American Legend Homes is opening three communities in Flower Mound in 2013 and we believe Lakeside will be the crown jewel,” said Forrest Hartley, Manager of Land Acquisitions for American Legend Homes.
Darling Homes was founded in 1987 when three brothers set out to create homes that would stand the test of time and delight homebuyers for years to come. Darling Homes is the recipient of numerous homebuilding awards and consistent, positive customer satisfaction surveys. The company currently builds in the Dallas-Fort Worth Metroplex and Greater Houston area. Darling Homes is a division of Taylor Morrison, the largest North American privately-owned homebuilder as reported by Hanley Wood based on 2011 revenues.
“When we received the master development plan for the project, we knew the Villa home design would be an ideal product for the unique vision that Lakeside represents,” said Larry Delzell, vice president of Land Acquisition, Darling Homes. “We are excited to be a part of this revitalization effort to build homes within a community-centric, mixed use project. We also believe our Villa home designs will provide residents all the amenities they expect in a traditional custom home design with less upkeep and the added bonus of being able to walk to work, shop or grab a meal.”
The multilevel, stand-alone Villas offer a variety of floor plan options, architectural details, lifestyle amenities, and energy-efficient packages. Darling Homes developed the villas-styled homes to fit the lifestyle needs of the empty nester, busy professional or first-time homebuyer. In addition, Darling will also be building on larger lots in Lakeside offering luxury homes for families in need of more space and yard.
Single-family homes are just one component of the planned mixed use, urban-style Lakeside DFW development that sits along the northeast shore of Grapevine Lake in Flower Mound. At build-out, the community is planned to include retail, restaurant and office space, a hotel, urban-style and loft apartments, townhomes, and condominiums.
Lake view restaurants will be a key component of the Lakeside Village which is located at the southern end of the property overlooking the Gaylord Texan Resort & Convention Center as well as the western sunsets across the water. Unique public amenities of Lakeside will include an amphitheater, boardwalk, and an observation deck.
“We know that Flower Mound residents are eager to see the dirt fly as construction gets underway this Spring,” Archie said. “In addition, we are finalizing plans with our mixed-use development partner to build the Phase I retail/loft component at FM 2499 and Lakeside Parkway. We expect to see lots of sticks on the ground this time next year.”
Visit www.LakesideDFW.com and www.Facebook.com/LakesideDFW.
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