Part of Frisco's Brinkmann Ranch Sells for $1 Billion Development
A top Dallas-area homebuilder has purchased part of Frisco’s Brinkmann Ranch and plans to build a $1 billion residential community. The 637-acre purchase by Landon Development is one of the largest vacant tracts in Frisco. The property is on the west side of Coit Road between Main Street and Eldorado Parkway.
Landon Development plans to build a mixed-use community with thousands of homes and apartments plus retail space. “In total it will be approximately 4,700 housing units — it’s a mix of apartments and houses,” said John Landon, CEO of Plano-based Landon Development and Landon Homes. "We plan on beginning the infrastructure construction for the first phase of the single-family homes later this year. I am confident that a new mixed-use development in this location will be a resounding success.”
Landon has already reached an agreement with the city to zone the tract. “One of the things that was important to the city is we reduced by more than half the amount of apartments that are going to be built on the property,” he said. Landon Development is selling the apartment building sites to Dallas-based Trammell Crow Residential. Land is also being sold out of the project for new elementary and middle schools. “There will be open space in there and a grocery store on the corner of Coit Road and Eldorado,” Landon said.
The developer hopes to have a variety of housing in the project. “We are planning on bringing different price points,” Landon said. “We think we can start some homes under $400,000, which is good for that area of Frisco.
The Brinkmann Ranch property Landon Development purchased is across the street from the firm’s Lexington Country community with about 1,100 homes. In 2015, Landon Development bought about 200 acres on the east side of Coit Road for that project from Brinkmann Ranches. That property and the just-purchased tract to the west were part of the more than 5,000-acre Brinkmann Ranch, which is at Preston Road and Main Street in the heart of Frisco.
In the 1970s, parts of the Brinkmann Ranch were used to film the Dallas television series. Over the last decade, developers have coveted the prime property for new construction.
“Landon’s purchase of 637 acres of Brinkmann Ranch is certainly one of the biggest residential land transactions in some time,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “Landon Homes has been the most active builder in the Frisco market. With this acquisition, they will secure this position for years to come.”
Landon Homes builds in more than a dozen North Texas communities. Most of the company’s houses are priced at more than $400,000. Its Richwoods community in Frisco is one of the area’s most successful residential projects, with more than 500 acres.
Landon said his business has picked up in recent weeks despite the pandemic...
