Austin-based Pacesetter Homes is expanding in North Texas with plans to have 12 new residential communities open by the end of the year.
Pacesetter has about 1,200 lots under contract in North Texas, said Blake Friesenhahn, the builder’s vice president for DFW. The company plans to build a little more than 200 homes in the area this year, he said. “We’re excited because we think as we’re opening up a lot of these new communities, they’re in price points that are in very high demand,” Friesenhahn said in an interview with the Dallas Business Journal. “We think 2020 is going to continue to be a good year for the market, and we plan on having a significant jump in our position in the market.” Pacesetter’s current communities in North Texas include Woodridge in Oak Point, Creek Crossing in Melissa, Anna Town Square in Anna, Parks at Legacy in Prosper and Breezy Hill, Stone Creek and Gideon Grove in Rockwall. Homes in those communities range from the upper $200s to the mid-$400s, with the average in the $350,000 to $450,000 range, Friesenhahn said. Pacesetter has sold about 80 homes in those communities so far. Lots are currently being developed and communities will be open later this year in Meadow Run in Melissa, Green Meadows in Celina, Woodland Creek in Royse City, Lavon Farms in Lavon and Aubrey Creek Estates in Aubrey. The company is developing some lower-priced lots in some of the newer communities, so homes in those communities will sell from the low $200s to the mid $400s, with most being in the low $200s to mid-$300s, Friesenhahn said. Friesenhahn said the North Texas new home market has been strong since the third quarter of last year when interest rates began to come down. Pacesetter’s homes appeal to a variety of demographics because of its variety of price points, he said. “It’s really all ages,” he said. “With our price point, we’re going to have some first-time buyers, first-time move up buyers and certainly some downsizing empty nesters. Then you get into our Prosper and Rockwall areas, and you see second and third-time buyers that have kids in their teens and want more space.” The company plans to build 300 to 350 homes in North Texas per year in 2021 and 2022 after its new communities come online, and grow its community count after that, Friesenhahn said. Pacesetter’s parent company is Winnipeg-based Qualico, one of the largest construction companies in western Canada. In 2004, Qualico entered the Austin market, and Pacesetter was formed in 2007 in that city, Friesenhahn said. Pacesetter is building about 500 homes a year in Austin and surrounding Central Texas cities, he said. Pacesetter entered the Dallas-Fort Worth market in 2017 and opened its first community in the market the next year. Reported by Dallas Business Journal (Jan. 14, 2020) For complete contact information for Pacesetter Homes, including all corporate, region and division offices and top personnel contacts, refer to The National Builders Directory and Online Database. Four major builders have been selected for a new village coming to Rancho Mission Viejo, the large master-planned community being developed in South Orange County, California.
Lennar California Coastal, Meritage Homes, PulteGroup and TRI Pointe Homes will develop new homes for Rienda, a new village coming in early 2022, according to a Rancho Mission Viejo press release. Rienda will be near downtown San Juan Capistrano and a quick drive from San Clemente and Doheny State Beach in Dana Point. “We’re excited to have these outstanding and highly respected homebuilders join us at RanchoMission Viejo,” said Paul Johnson, executive vice president of community development for Rancho Mission Viejo. “Since opening the first village of Sendero in 2013, The Ranch has been admired as one of America’s most sought-after master-planned communities. We are confident that reputation will continue to grow as more residents begin experiencing the unmatched community lifestyle.” The initial phase for the Village of Rienda will have 671 homes in seven neighborhoods. Community amenities and programming—notable features of Rancho Mission Viejo—will be available at Rienda. Existing amenities at Rancho Mission Viejo include spacious natural land, coffee shops, exercise opportunities and social events. Rienda means rein, a connotation Johnson touched on when explaining how the community came to be named. “We chose the Village of Rienda’s name carefully and purposefully, because we believe it will offer residents the opportunity to truly take the reins of their desired lifestyles,” Johnson said. Jeremy Parness, division president for Lennar California Coastal, said they are excited to continue working with Rancho Mission Viejo in bringing in “vibrant new neighborhoods.” Elliot Mann of Meritage Homes said they look forward to providing the next chapter for Rancho Mission Viejo life. “The Pulte team is pleased to continue its partnership with The Ranch in 2022, delivering outstanding, consumer-inspired new home designs in a beautiful setting known for its distinctive amenities and one-of-a-kind lifestyle,” said PulteGroup Southern California Division President Chris Edgar. Tom Grable, division president of Southern California for TRI Pointe Homes, said Rienda will “create an opportunity for homebuyers to find homes that are both attractive and very attainable.” Home sales have been strong in existing communities at Rancho Mission Viejo, including Esencia, the newest village in the community. “Continued strong sales at the Village of Esencia are creating a scenario where the opportunities to purchase new homes and join The Ranch community are becoming very limited,” Johnson said in the press release. Reported by The Capistrano Dispatch (Jan. 10, 2020). For complete contact information for Lennar, Meritage, Pulte and TRI Pointe, including all corporate, region and division offices and top personnel contacts, refer to The National Builders Directory and Online Database. Colorado-based real estate investor and developer, McWhinney, will break ground in early 2020 on Park 40, a new multifamily development consisting of 313 apartment homes at Baseline, the new 1,100-acre mixed-use community in Broomfield. On the East Coast, Lennar Multifamily Communities is under contract to buy a 1.3-acre piece of the Scotts Run development site in Tysons from CityLine Partners, and the team recently filed plans for a 26-story, 447-unit apartment building on the site.
McWhinney's project, part of West Village at Baseline, is situated at Highway 7/Baseline Road and I-25. Park 40 will feature 51 studio apartments, 160 one-bedroom apartments, 84 two-bedroom apartments and 18 three-bedroom residences. The average unit size will be approximately 866 square feet and are intended for people who value design and energy efficiency over square footage and who prefer not to rely on a car to get around. “We are excited to offer the Broomfield community a new multifamily alternative that is part of a larger active mixed-use community that will be focused around nature, trails, parks, education, science and primed to be habitat friendly,” said Tyler Erickson, McWhinney Multifamily developer. Residents of Park 40 will have access to more than 3 acres of green open space with trails and a central clubhouse with a kitchen & lounge, a library and co-working spaces and a fitness center and yoga studio. Other amenities will include an outdoor pool & spa with grills and a dining area, in addition to a bark park for dogs. Park 40 will bring the total number of apartments delivered by McWhinney in Colorado to more than 4,000 homes, with plans to bring an additional 2,000 units to the market in the near future. Colorado Springs-based CSI Construction is serving as the general contractor on the project, which was designed by Denver’s Craine Architecture, Inc. Other partners include interior designer TRIO and landscape architect, Studio-Insight. Cityline Partners Managing Director Donna Shafer told Bisnow that Lennar approached Cityline unsolicited to propose the deal, and that she thought its proposed project would complement the other buildings that have moved forward on the site. She said Lennar is bullish on Tysons' multifamily market and hopes to begin construction as soon as possible. "If they could break ground tomorrow, they would," Shafer said. "They have their foot on the accelerator." The project would be built at the intersection of South Dartford Drive and Chain Bridge Road on the southern portion of the Scotts Run development. It sits about a half-mile from the McLean Metro station, one of the four Tysons stops that opened in 2014 and have spurred a wave of mixed-use development in the area. The application calls for a 300-foot-tall building with 450K SF of residential and 18K SF of retail, plus a parking podium. DCS Design is serving as the project's architect and Walsh, Colucci is the land-use attorney. "The building design combined with high quality materials, including masonry, high-performance glazing and various finishes, will ensure an iconic residential building that will enhance the Tysons skyline," Walsh, Colucci's Lynne Strobel wrote in the application. The new Scotts Run apartment building will not be the first Tysons project for Lennar Multifamily. The developer also built a 32-story, 398-unit project near the Greensboro Metro station. Reported by BisNow (Jan. 6., 2020) and Mile High C.R.E. (Jan. 7, 2020). For complete contact information for McWhinney and Lennar Multifamily Communities including all corporate, region and division offices and top personnel contacts, refer to The National Builders Directory and The Directory of Multifamily Builders & Developers. |
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