Monterra is a masterplanned residential community located in Fate, Texas. This 231 acre property was purchased by Wynne/Jackson in the 3rd quarter of 2021.
The City of Fate is a northeastern suburb of the DFW Metroplex. Located about the same distance from Downtown Dallas as McKinney or Frisco, just under 30 miles, the City of Fate offers a balance between a small town and access to everything a big city has. As one of the fastest growing cities in the State of Texas, the City of Fate is located in the heart of Rockwall County, which is the wealthiest county in the State. With a well-planned future, the City of Fate has smart, sustained growth in its sights. The City of Fate’s Downtown Revitalization project include a walkable destination with mixed-use developments offering restaurants, boutiques, lofts, wide sidewalks, streetscape, landscape, and other enhancements.
Monterra is located on Ben Payne Road, which runs perpendicular to Interstate 30 and provides direct access to/from the I-30 frontage road. This provides incredible access to Dallas-Ft. Worth to the west and Greenville to the east. It also feeds directly into the bustling community of Rockwall, which provides services to people on the east side of the Metroplex. Both Dallas Love Field Airport and DFW Airport are about 45 minutes from the City of Fate to the west. On top of all the economic reasons, the interstate and surrounding infrastructure provides access to two incredible recreational lakes, Lake Ray Hubbard and Lake Lavon.
The total project will consist of approximately 650 lots ranging in size from 50′ wide to 70′ wide. Construction commenced in late 2021 on the initial phase of the project, which includes approximately 250 lots as well as the amenity center and the initial trail system. The phase 1 lots were completed in July, 2023.
Homebuilders in the project include K.Hovnanian Homes, Grand Homes, Highland Homes, and David Weekley Homes.
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 Company is providing construction financing for the project.