Just seven weeks after receiving zoning approval, officials of Realty Capital Management today announced the first land sale at Lakeside DFW, the mixed-use development in Flower Mound.
The 23.88 acres in the northwest sector of the 150-acre site overlooking Lake Grapevine were purchased by a local land development company for the project’s first phase of single-family homes.
“American Legend Homes and Darling Homes are partnering with us,” said Jimmy Archie, managing director of Realty Capital Management.
These two outstanding home builders will help realize the dreams of all those who have expressed their intent to live at Lakeside.
American Legend’s homes at Lakeside will be priced from the low $400’s to the $600’s for four and five bedroom luxury homes with 2,400 square feet to well over 4,000 square feet.
“We are opening three communities in Flower Mound in 2013 and we believe Lakeside will be the crown jewel,” commented Forrest Hartley, manager of land acquisitions for American Legend Homes.
Darling Homes is planning multilevel, stand-alone Villas to fit the lifestyle needs of the empty nester, busy professional or first-time homebuyer.
“When we received the master development plan for the project,” said Larry Delzell, vice president of land acquisition for Darling, “we knew the Villa home design would be an ideal product for the unique vision that Lakeside represents.”
Darling also plans to build on larger lots in Lakeside for families in need of more space and yard.
“We are excited to be a part of this community-centric, mixed-use project,” Delzell added.
“Our Villa home designs will provide residents all the amenities they expect in a traditional custom home design with less upkeep and the added bonus of being able to walk to work, shop or grab a meal.”
In addition to single-family homes, the mixed-use project will feature retail, restaurant and office space, a hotel, urban-style and loft apartments, townhomes, and condominiums.
Lake-view restaurants will be a key component of the Lakeside Village section located at the southern end of the property that offers stunning views overlooking Lake Grapevine.
An amphitheater, boardwalk, and an observation deck are also planned to capitalize on the property’s special locale where the sun sets over the lake all year long.
“We know that Flower Mound residents are eager to see the dirt fly as construction gets underway this Spring,” Archie said.
“We also are finalizing plans with our mixed-use development partner to build the Phase I retail/loft component at FM 2499 and Lakeside Parkway. We expect to see lots going out here this time next year.”
Lewisville-based American Legend sold over 450 homes priced from the $200’s to over $1 million in 2012. The firm is owned by the Bright family (owners of the Dallas Cowboys in the 1980s),
The recipient of numerous homebuilding awards and consistent, positive customer satisfaction surveys, Darling Homes currently builds in the Dallas-Fort Worth Metroplex and Greater Houston area.
The firm recently became a division of Scottsdale-based Taylor Morrison, the largest North American privately-owned homebuilder as reported by Hanley Wood based on 2011 revenues.