A dozen residential developments that will reshape North Texas
February 24, 2022
Wynne/Jackson’s project, Monterra, was named as one of a dozen residential developments that will reshape North Texas in an article in the Dallas Business Journal.
By Bill Hethcock – Senior Reporter, Dallas Business Journal
Feb 24, 2022, 6:00pm EST
Monterra is a 231-acre master-planned residential community in Fate, one of the fastest-growing cities in Rockwall County and the state.
The property, purchased by Dallas-based Wynne/Jackson real estate development firm in the third quarter of 2021, is located on Ben Payne Road, which runs perpendicular to Interstate 30 and provides direct access to the I-30 frontage road. The total project will consist of about 650 lots ranging in size from 50-feet wide to 70-feet wide.
Development began in late 2021 on the project’s initial phase, which includes about 250 lots and the amenity center and the initial trail system.
Homebuilders in the project include K.Hovnanian Homes, Grand Homes, Highland Homes and David Weekley Homes, according to Wynne/Jackson.
Wynne/Jackson obtained the Planned Development zoning for the project and created a Public Improvement District to provide funding of construction costs through the advance sale of PID bonds.
Hillwood Communities is the equity partner for the project and First United Bank and Trust Co. is providing construction financing for the project.