New Forney Community Will Bring 2,000 Homes
A new community on the way in Forney will include 2,000 new homes. Houston-based developer Hines has purchased the more than 600-acre High Point Ranch property on U.S. Highway 80. The big residential project will be developed in nine phases starting late this year, according to Hamilton Realty Finance, which arranged funding for the deal.
Hines obtained more than $12.9 million in financing to purchase the property and pay for predevelopment costs, according to the lender.
“Hines plans to break ground on the first phase of lots in the fourth quarter,” said Hines’ Greer McDowell. “The community will feature an amenity package including a pool and clubhouse overlooking a lake, hiking and biking trails along the creek, and pocket parks throughout the community.” The first phase will be sites for about 200 homes. The entire project will be developed over 10 years, said McDowell.
The Forney area just east of Dallas has been one of the top new home sales and start markets in North Texas in the last couple of years. Communities with some of the largest volumes of home purchases are located in Forney.
Developer Hines is best known for huge projects, including the real estate firm’s new Victor apartment tower near downtown Dallas and the landmark Dallas Galleria shopping mall on LBJ Freeway. But the international real estate firm has also developed multiple D-FW residential communities during the last decade...
