May 21, 2024: Housing Market News Roundup

Welcome to today’s roundup of real estate news, where we delve into the latest developments shaping the housing market across various regions. From groundbreaking new communities like Northspur in Terrell, Texas, to strategic land acquisitions and transformative projects like Talise in Laredo, our coverage spans significant investments and visionary developments that promise to redefine living spaces. Whether it’s the sale of a scenic waterfront community in Beaufort County or the transformation of ranch land into a bustling industrial hub in Arizona, these stories highlight the dynamic nature of the real estate sector. Dive into detailed accounts of these exciting projects and more, each offering unique insights and opportunities in today’s fast-evolving market landscape.

Terrell, Texas home development: Northspur breaks down |

Homes could soon start popping up in a new neighborhood east of Dallas. Northspur, an about 700-acre master-planned community by Hines and Trez Capital, is in the works about 27 miles east of downtown Dallas in Terrell. It’s on the westernmost edge of Terrell, near Forney.

The Kaufman County community just north of Highway 80 at Spur 557 will have roughly 1,500 single-family homes, with about 230 home sites in the initial phase for M/I Homes and Impression Homes, according to Hines and the city of Terrell.

“We look forward to delivering a master-planned community that not only offers a diverse range of housing options but also caters to the changing needs of the area’s residents,” Dustin Davidson, a managing director at Hines, said in a statement.

Hines bought the land in May 2021 and has since been building out roads and infrastructure. The lots are expected to be ready for builders this quarter. Prices will range from the $300,000s to $500,000s, the Dallas Morning News reported.

“This project is the result of strategic planning by city officials who worked diligently with Hines to ensure the creation of a neighborhood which will provide amenities to its residents, while ensuring quality and security at our western entrance,” Mayor Rick Carmona said in a statement.

The project could also eventually include commercial, retail, and industrial uses.

Hines has built 26 communities in the Southwest U.S. Its communities underway throughout the Dallas-Fort Worth area include Aster Park, Brookhollow West, Creekside, Lakewood at Brookhollow, Milrany Ranch, Merion at Midtown Park, Redden Farms, Saddle Star, and Wildflower Ranch.

Trez Capital and its affiliates manage more than $5.3 billion in assets and have funded more than 1,700 transactions totaling more than $18.5 billion, according to a news release.

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Hines Commemorates Groundbreaking Of New Master-Planned… – Hines

Hines and Trez Capital have announced plans for Northspur, a 700-acre master-planned community located east of Dallas in Terrell. The development will consist of approximately 1,500 single-family homes with a variety of lot sizes and amenities, including a custom amenity center with a swimming pool, playground, and open play area. The initial phase will include about 230 lots constructed by M/I Homes and Impression Homes. Northspur’s prime location offers suburban living with easy access to the Dallas-Fort Worth metroplex and local recreational amenities. Hines has over 65 years of development experience and is on track to deliver the first phase of lots in the second quarter of 2024. Learn more about this exciting project here.

Southern Land Co. Adds VP of Single‑Family Land Acquisition » Dallas Innovates

Southern Land Company, a national real estate developer, has hired Jeff Poole as the company’s new Vice President of Single-Family Land Acquisition. In this role, Poole will be responsible for expanding the company’s community development pipeline and its single-family homebuilding division. With nearly 25 years of experience in the homebuilding business, Poole brings valuable expertise to Southern Land’s strategic expansion plans. The company is dedicated to developing high-quality master-planned communities and building single-family homes in Texas, Tennessee, and Colorado. Learn more about this exciting addition here.

The Arizona Republic Subscription Offers, Specials, and Discounts

Buckeye, Arizona, is making plans to replace one of its master-planned communities with industrial land. The Cipriani Community Master Plan, originally approved in 2008 for residential development, will now be redesigned for commercial and industrial uses. The 2,000-acre area will see a significant shift in its purpose, as the developer did not meet the deadlines stated in the development agreement. The city sees the land’s proximity to the airport as more suitable for non-industrial purposes. Learn more about this transformation here.

Laredo-Area Ranchers to Invest $1.6B into Master-Planned Community – Connect CRE

The Walker Family, a longtime ranching family in the Laredo area, plans to transform their 13,000-acre working ranch into a master-planned community called Talise. The project will include commercial and industrial manufacturing businesses, thousands of homes and multifamily communities, and an airport. With an expected investment of $1.6 billion from the Walker Family, Talise aims to bring ambitious development to the region and provide opportunities for Laredoans, Webb County, and South Texas residents. SE Legacy Development, founded by the Walker family, is leading the project. The community will be located in an unincorporated area in Webb County, north of Laredo, Texas. Learn more about this exciting venture here.

Planned community in Beaufort County sells for $11M | Beaufort County |

Heyward Point, a 454-acre master-planned community located in Okatie, has been sold for $11 million. The property, previously purchased by Drapac Capital Partners in 2013 for $1.675 million, offers a picturesque development opportunity for a high-end waterfront community. The buyer, HP Land Development, LLC, plans to finish the development as a high-end estate community with larger, custom homes. Heyward Point is nestled between the Colleton and Okatie rivers and holds historical significance, including the discovery of Altamaha Town, a Native American village occupied from around 1690 to 1715. Learn more about this exciting sale and development here.

New 1,500 home community coming to Terrell

Construction is underway for Northspur, a 700-acre master-planned community located in Terrell, approximately 30 minutes east of Dallas. The first phase of the development will include around 230 lots, with homes being constructed by M/I Homes and Impression Homes. Prices for the single-family homes will range from the $300,000s to the $500,000s, offering a variety of lot sizes and floor plans. Hines and Trez Capital are behind the project, which aims to provide high-quality and cost-effective housing options in response to the suburban growth of Dallas. With a focus on meeting the changing needs of the area’s residents, Northspur is expected to be a sought-after community. Learn more about this exciting development here.