DALLAS — A large, new residential community in McKinney is gearing up to get under construction next year, ultimately bringing about 3,400 homes with 25 miles of hiking and walking trails and a 200-acre greenbelt around a 20-acre lake.
Located north of U.S. Highway 380 near Lake Forest Boulevard, the new community of Painted Tree will include homesites ranging from detached townhomes and cottages to larger family homes and some custom homesites. It will also include multifamily and commercial.
Oxland Group, a Dallas-based development and consulting firm, presented plans for the 1,100-acre development to the city of McKinney last week.
“What made this deal appealing to us and others is the lack of supply, particularly in the McKinney market,” Tom Woliver, president and partner of Oxland Group, said Tuesday in an interview with the Dallas Business Journal.
“It’s kind of a greenfield infill project with a lot of development wrapped around this deal,” Woliver said. “You add that to it being a a great place to live in McKinney and the demand here and the supply being so low and it’s the perfect storm of opportunity.”