15 Jun Dallas Developers: Will Light Farms be the North Texas Cousin of Prairie Crossing?
Republic Property Group will soon be bringing North Texas a whole lot of new homes. After recession-induced delay, Light Farms, a $1.2 billion, 806-acre master-planned community in Celina, north of Frisco is gearing up. Look for 2,700 homes housing an estimated 8,700 residents.
Republic has also swooped up the last stretch of raw land in Frisco, Phillips Creek Ranch. Look for a 950 acre planned community with homes priced from $350,000 to $2,000,000. I’m told that agents in Frisco are lining up to list and sell this community because of the amenities and short housing stock.
But the neatest thing about these two developments, besides that they are from the folks who brought you Lake Forest and Lantana, among others: the guys running the show. Meet two thirty-something land developers, both St. Marks grads, who are blazing new trails in Dallas real estate: Jake Wagner, executive vice president and one of the project managers at Dallas-based Republic Property Group, and Tony Ruggeri, executive vice president. It will be very interesting to see their Gen Y influence on development. For example, two old — really old, like 200 year old barns from upstate New York will be brought in to Light Farms and incorporated into the community. We know that agriculture is the new golf, as more developers incorporate agriculture and suburbia. Will Light Farms be the place where you can pick your salad and heirloom tomatoes, a North Texas answer to Prairie Crossing? We will stay tuned.