10-07-2013 06:54 PM

Crescent Communities buys 100 acres for Denton County project

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Crescent Communities plans to begin a master-planned community in Denton County in early 2015, which will bring 1,000 new homes to North Texas.




After developing plans for a new master-planned community in Denton County, Charlotte, N.C.-based Crescent Communities bought 100 acres of land to expand its vision for the soon-to-be launched project.
The Denton County project, called Timberlake, totals about 370 acres, and is expected to get underway by early 2015. The project will be developed in partnership with Dallas-based Taylor Duncan Interests Inc.
Early plans for the tract of land includes 1,000 homes priced from $200,000s to $400,000s.
The project has been years in the making. In 2012, Crescent bought 250 acres of land for the project, which will have access to Lake Lewisville.
About half of the 10 fastest-growing cities are in Texas, and residents are looking for communities where they can live a balanced life with easy access to work, good schools and recreation, said Steve Yetts, senior vice president of the residential group at Crescent Communities.
"The Dallas area continues to grow, and the market has a major need for new homes offering high-quality lifestyle," Yetts said, in a written statement.
Along with the Denton County project, Crescent Communities plans to complete the final phase of an Austin master-planned project, which includes a new retail plan at the site in Dripping Springs in the Austin market.
Candace covers commercial and residential real estate and sports business.


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