Two Dallas-Fort Worth master-planned communities totaling $775 million at build-out — one in Denton County and another in Wylie — are under construction after two Dallas-based developers have formed a new joint venture, called Allegiant Realty Partners.
The master-planned communities — Bozman Farms and ArrowBrooke — will bring thousands of homes to the region and is part of a larger strategy of the newly formed partnership between Dallas-based Siepiela Interests and Dallas-based Taylor-Duncan Interests to quickly expand in the Lone Star state.
Since forming the new venture, the developers have bought more than 2,200 acres of land in North Texas and in the Austin area with plans to develop 5,500 home lots.
“We have about five communities totaling more than 5,500 potential lots that we plan to develop in the next five to seven years,” Larry Taylor, a partner at Taylor-Duncan Interests, told the Dallas Business Journal in an exclusive interview.
“These two markets happen to be the hottest markets in North Texas,” Taylor told me. “There was not enough development in North Texas and the builders were running out of affordable lots to build in. These two sites fit our market research and we think they will be highly successful.”