Forestar, a subsidiary of D.R. Horton, received approval in April to develop a master-planned community on 281 acres near Northlake, Texas.
The project highlights continued growth and development interest in the North Texas region, which has become attractive to both residential and industrial developers.
According to city records, the Northlake City Council rezoned the land last month to allow for mixed-use planned development. The property is located along the east side of FM 156, south of Downe Road and across from Justin. The land is currently owned by Arthur Downe, Gloria Downe and Beverly Pistone—members of what Nathan Reddin, Northlake Development Services Director, called “heirs of a founding family in Northlake” during a March city council meeting. Sale agreements were signed with Forestar in October that reserve the developer’s option to purchase the land at a later date. A development agreement between Forestar and the owners was reached on March 11.
Zoning allows up to three homes per gross acre on this site, meaning as many as 843 homes could be built. However, preliminary plans indicate about 158 acres will be set aside as green space. Forestar also intends not to include townhomes and will keep lots for detached houses at least 30 feet wide according to information provided by the city. A representative from Forestar told the town council that some commercial space would also be included in the project.
Northlake forms part of AllianceTexas—a large-scale mixed-use development by Hillwood that covers over 27,000 acres and includes industrial facilities for companies such as Southwire, Bell Textron and Stanley Black & Decker. In February this year Las Vegas-based MP Materials announced plans for a new manufacturing complex spanning more than 120 acres within AllianceTexas in Northlake.
Hillwood has previously developed residential communities not only in Northlake but also nearby towns like Justin and Argyle.
