One other massive ranch has offered north of Dallas — the second latest main land commerce close to the Grayson County city of Gunter.
The 1,061-acre Elm Creek Ranch is the newest sale. Situated between Preston Street and the long run route of the Dallas North Tollway, the property is southwest of Sherman the place Texas Devices is spending billions of {dollars} on new semiconductor crops that may make use of hundreds of employees.
Elm Creek Ranch is simply north of the brand new Legacy Hills growth, which Centurion American not too long ago acquired and the place it’s planning greater than 10,000 houses and residences.
A partnership led by traders Vijay Borra of DFW Land and Ramana Juvvadi purchased the Elm Creek Ranch.
“The property has lovely lakes together with rolling terrain ideally fitted to a master-planned growth,” stated actual property dealer Rex Glendenning. “This tract is extraordinarily well-positioned, with intensive frontage alongside future Grayson County Parkway, and is barely a couple of mile from each Preston Street and the Dallas North Tollway Extension.
Glendenning stated the acquisition builds on latest land gross sales north of Dallas in Celina and now Gunter.
“Land costs in Frisco and Prosper are attending to the purpose the place delivering an reasonably priced or what we as soon as known as entry-level house is just about inconceivable,” Glendenning stated. “With the ability to purchase a house inside 30 to 45 minutes of Legacy City Heart and The Star whereas additionally being situated inside an exemplary college district is an incredible draw to new homebuyers.
“This space jogs my memory of the Frisco/Prosper market space 10 to fifteen years in the past, with each nice location and wonderful colleges,” he stated. “The Celina/Gunter market is the brand new place to be for master-planned housing initiatives which can be nonetheless priced inside purpose.”
The sale of the Elm Creek Ranch follows an acquisition early this month of the 1,215-acre Double Platinum Ranch close to Gunter.
Glendenning and Caleb Lavey of Rex Actual Property brokered each of the large land transacitons.
With a inhabitants of greater than 2,000, Gunter has virtually doubled in measurement over the last twenty years and is anticipated to see extra vital progress as growth simply to the south in Celina pushes north.
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