A group of Texas-based investors has purchased 1,300 acres of land in Kaufman County, east of Dallas, with plans for a residential community.
The project, called Majestic Meadows, will be built on land at FM 548 north of Route 80 at Colquitt Road and FM 1392. The property is located along the proposed Kaufman County Outer Loop Expressway corridor, just northeast of Forney and near several other highways. The planned development already includes thousands of homes.
The property buyers said they plan to build an environmentally friendly housing community based on a master plan.
“Our findings show that master-planned communities that are environmentally friendly and have good transportation infrastructure are the top choice for new home buyers,” John Bielamowicz, a real estate broker with Addison-based Beer Partners, said in a statement. This overwhelmingly suggests that all of the above criteria are met.”
Bielamowicz and Jerrod Simmons of Biel Partners arranged the property sale with Grant Glasco of Glasco Commercial, who represented the buyer, KCOLT Investor Group.
Construction management company Konstruct Notion LLC is working with the landowner to plan the project.
Ramesh Yetamaddi, Pavan Peddireddy and Swathi G Reddy formed KCOLT Investor Group to acquire real estate.
“The vision that KCOLT Investor Group and its team has begun to develop will meet and continue the region's consumer preferences for quality of life and provide exceptional benefits,” said broker Grant Glasco. said in a statement.
Kaufman County is experiencing a surge in residential development as North Texas homebuyers seek more affordable housing options near Dallas. Several major residential communities are under construction in the area.
