North Spur is an approximately 700-acre master-planned community by Hines and Trez Capital located approximately 44 miles east of downtown Dallas that is currently under construction.
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Homes could soon begin construction in a new neighborhood east of Dallas.
North Spur is an approximately 700-acre master-planned community by Hines and Trez Capital located in Terrell, approximately 44 miles east of downtown Dallas, that is currently under construction. It is located on the western edge of Terrell, near Forney.
The Kaufman County community at 557 Spurr, just north of Highway 80, will have about 1,500 single-family homes, with about 230 M/I homes and impression homes in the initial phase, according to Hines and the city of Terrell. There is said to be residential land.
“We look forward to delivering a master-planned community that not only offers a variety of housing options, but also responds to the changing needs of local residents,” said Dustin Davidson, Managing Director of Hines. he said in a statement.
Hines purchased the land in May 2021 and has been working on roads and infrastructure since then. Lots are expected to be ready for builders this quarter. Prices will range from $300,000 to $500,000, the Dallas Morning News reported.
Mayor Rick Carmona said in a statement: “This project is a testament to city officials who worked diligently with Mr. Hines to ensure the neighborhood was created to provide amenities for residents while ensuring the quality and safety of the west entrance. This is the result of their strategic planning.” .
The project could also eventually include commercial, retail and industrial uses.
Hines has built 26 communities in the Southwest United States, with ongoing communities throughout the Dallas-Fort Worth area including Astor Park, Brookhollow West, Creekside, Lakewood at Brookhollow, Millarney Ranch, and Midtown Park. They include Merion, Redden Farms, Saddle Star and Wildflower Ranch.
Trez Capital and its affiliates manage more than $5.3 billion in assets and have funded more than 1,700 transactions totaling more than $18.5 billion, according to a news release.
