Two North Texas master-planned communities among top 50 in nation
By Bill Hethcock – Senior Reporter, Dallas Business Journal | Jan 8, 2020, 3:50pm EST
Two North Texas developments made a national listing of the 50 most successful master-planned communities, ranked by sales.
Hillwood Communities’ Harvest development in the Northlake/Argyle area of Denton County ranked 48th, with 383 net sales last year.
Woodcreek in Fate, developed by Dallas-based PMB Capital Investments and Southstar Development, ranked 41st on the John Burns Real Estate Consulting 2019 list, with 401 net sales.
Master-planned communities are typically much larger than normal housing subdivisions and include more amenities such as parks, lakes, bike paths, jogging trails, golf courses, playgrounds, swimming pools, and even stores and restaurants.
Peter Pincoffs, a partner at real estate investment and development company PMB Capital, said demand for homes in master-planned communities in North Texas is robust and growing.
“There is a huge shortage of new homes for all the people who have moved to DFW or just moved around to new companies and continued in their careers,” Pincoffs said in an interview with the Dallas Business Journal.
SOURCE: Dallas Business Journal