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Logistics of building a $2B 4,500 home subdivision

It takes a lot of $$$ as in $2B + to build a 4,500 home subdivision.   Besides money the logistics of putting the puzzle together, so to speak, is probably in excess of 10 plus years by the time the developer gets to pouring the foundation for home # 4500.

But that’s what the developer, Tomlin Investments, is planning on doing with their Green Meadows, 15 phase, 1,408 acre master-planned community in Celina which is 42 miles due north of downtown Dallas off Preston Rd (SH 289) just north of US 380 in Frisco.  As the president of Tomlin Investments, Dan Tomlin III, states their in the fourth inning if this were a baseball game.  One of the key factors that Tomlin Investments took into account in their decision making to go forward with the Green Meadows development is what’s going on in the Plano/Frisco corridor with Legacy West (Plano) and the $5 billion mile (Frisco) as there’s a lot of people coming to the area in the next two years based on the likes of Toyota, Liberty Mutual, JP Morgan Chase  alone bringing in excess of 20,000 full time jobs to their newly relocated business campuses.   And that’s not counting other firms that have yet to be announced moving to the Plano/Frisco corridor.

Tomlin  has noted he expects to break ground on PHASE ONE  of Green Meadows in Celina by the end of summer (2016), with delivery of the first single family home lots expected in mid 2018.  Plans for GREEN MEADOWS include a $4.5 million amenity center, multiple resort style pools, a dog park, community garden, playgrounds, sand volleyball courts, grilling areas, party center, daycare center and playgrounds.  And that’s why it’s called a master planned community.

Projected cost of homes in GREEN MEADOWS will start at $350,000 ranging upwards to the millions at the later parts of the development (as in PHASES 14 & 15).  Projected average cost of homes will be roughly $450,000-$500,000 according to Tomlin.

TAKEAWAY:  I think one can easily see why a 10 plus year build out of a master planned community, of this magnitude, is realistic as there’s a lot of moving parts to get everything  through the pipeline and finished in a timely manner.

About Jerold Smith

From 35 years in the corporate world to a full-time Broker & REALTOR® for the last 15 years, I know real estate. I share my extensive knowledge and expertise with buyers, sellers or investors, personally. I am a NATIVE TEXAN and know the local market better than anyone else. Any questions? Just ask.

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