Wynne/Jackson Purchases Key Parcel in Forney, Texas for Master Planned Community
September 28, 2017
The Company Plans to Develop a Highly Amenitized Multi-Phased Development
DALLAS – September 28, 2017 – Wynne/Jackson, a Dallas-based real estate development firm that specializes in creating master planned developments, announced today the purchase of 336 acres in the ETJ of Forney, Texas. The property is planned for the development of over 1,000 single-family residential lots.
Wynne/Jackson has long been active in the Forney market, commencing with the original acquisition and entitlement of what is now developed as “Devonshire” in North Forney. The company refocused its efforts in Forney in 2014 because of its location in the path of growth, proximity to major employment centers, the quality of the schools, and the excellent level of services. The appealing location between U.S. Highway 80 and Interstate 20 on FM 548 is one of the key factors that makes this tract ideal for a quality master planned community.
A development agreement was signed in April with the City of Forney in anticipation of annexation of the property into the City. The property is planned for a variety of lot sizes, residential design guidelines, significant open space, lengthy pedestrian trails, and a resort-style amenity center. The project has been named “Overland Grove” as a reflection to the interesting fact that U.S. Highway 80 was historically known as the “Overland Highway” and because the project will be developed with a suburban “agricultural theme” which will include groves of various species of fruit bearing trees as well as garden plots at the amenity center for use by residents.
A Request for Annexation of the property into the City of Forney was submitted to the city in October. The start of construction is planned for December 2017 and homes will be priced between $275K and $400K.
One of the largest public homebuilders in the country with a strong presence in North Texas, CalAtlantic Homes, will be the initial homebuilder in the project.
Clyde C. Jackson, chairman and chief executive officer of Wynne/Jackson, Inc. said, “We have been active in Forney since 2002 and it has always been a market we believe in. It is a great city to raise a family with the excellent schools, amazing park system and emerging downtown historical district. We are excited to have one of the top homebuilders in the country as the lead builder in the project. This will be the highest quality master planned community in Forney thanks to the quality amenities and thoughtful design that has been poured into the planning of this project for the past 3 years.”