The first group of custom homebuilders has started construction at a massive development in one of North Texas' fastest-growing suburbs.
Alford Homes, Coats Homes and Starside Builders have broken ground on 233 luxury, single-family houses at The Preserve in Frisco, about 30 miles north of Dallas. Prices start at $3.5 million, and the first homes are expected to be ready by mid-to-late 2025, according to the master developers, Karahan Cos. and Hunt Realty Investments.
Seven more builders are expected to start construction soon on the first phase, the companies said in a statement. Future phases are still being determined.
The 267-acre development is part of Fields, a 2,500-acre development off the Dallas North Tollway in northern Frisco.
The city of more than 234,000 residents has attracted scores of people and businesses in recent years, including headquarters for the NFL's Dallas Cowboys, NHL’s Dallas Stars, Major League Soccer's FC Dallas and the PGA Tour of America. Dallas-Fort Worth, with a population of 8.1 million, added nearly 152,600 residents between 2022 and 2023, more than any other U.S. metropolitan area, according to the U.S. Census.
Builders nationwide are working to address what real estate analysts say is a chronic shortage of new homes.
Estimates differ, but Ryan Marshall, CEO of homebuilding giant PulteGroup, said last week the U.S. could use 1.5 million units a year, a total that includes for-sale homes and apartments. The country has been well short of that number for the past decade or longer, according to Marshall.
From the Homes.com blog: Old House vs New House: Is it Better to Buy New Construction?
Lot sizes at The Preserve range from 6,800 square feet to more than an acre. The houses will have features such as floor-to-ceiling windows, glass walls, infinity pools and expansive outdoor areas, according to the developers. The homes are expected to be secondary residences for some buyers, Hunt Senior Vice President Todd Watson said in a statement.
“As part of the Fields development, with prominent neighbors like PGA of America and the Omni PGA Frisco Resort, we know The Preserve will be one of the most sought-after addresses in North Texas,” he said.