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Terra Verde Group Breaks Ground on $1.2 Billion Windsong Ranch
Signature development poised to be largest residential community in Prosper.
Terra Verde Group announced it is breaking ground on Windsong Ranch, its $1.2 billion community in Prosper, Texas. The 2,030-acre master-planned development is 2.5 miles west of the Dallas North Tollway and north of Highway 380. Anticipated builders for Windsong Ranch were also announced today and include Highland Homes, Darling Homes, Drees Homes, and Huntington Homes offering homes that will range from the mid $200's to $500's.
"We are creating a new residential offering that is environmentally responsible and encourages a healthy, active lifestyle for growing families."
"This signature development is poised to be the largest residential community in Prosper offering residents the ultimate family lifestyle," said Craig Martin, Founding Partner of Terra Verde Group. "We are creating a new residential offering that is environmentally responsible and encourages a healthy, active lifestyle for growing families."
Mayor Ray Smith says Prosper is the new player in terms of growth potential. "As other northern suburbs have filled in, Prosper is now clearly the newest, biggest growth area along the Tollway corridor," said Smith. Major commercial developments are kicking off at the Tollway and 380 and Windsong Ranch is opening up the entire west side of town adding to the explosive growth already underway on the east side of Prosper.
The 20-year natural progression of this growth corridor centers around Preston Road and the Dallas North Tollway and has now engulfed Prosper, much like it did Addison, Plano and Frisco before it. Highway 380 provides east/west access to the next major regional retail destination which will spur further growth around the Tollway/380 interchange. Windsong Ranch is right in the heart of that growth.
"The development pattern is clearly moving north up the Tollway/Preston Road corridor to Prosper and people are buying there because of the outstanding school district and accessibility," said Ted Wilson, Principal of Texas housing analyst Residential Strategies. "Last year Prosper had a record 450 starts and that will only continue in 2013 along with increases in lot prices."
Windsong Ranch will include commercial/retail, multi-family, townhomes and single-family homes on a variety of lot sizes and includes over 600 acres of natural green space, lakes, wooded creeks, parks, walking trails and expansive outdoor fields. Upon completion, Windsong Ranch will consist of 3,100 single-family residential lots and 150 acres of mixed-use development along U.S. Highway 380.
Terra Verde Group has placed a heightened focus on the natural environment and preservation of the land at Windsong, which was carefully designed to follow the free-flowing topography. Entrances throughout the development will showcase amenities and public spaces without disturbing the natural creeks and rolling terrain of the site.
Other unique environmental measures include the use of advanced electronic weather stations for irrigation control that will save 30% of water waste; bio-swales that naturally filter storm water; permeable, 'invisible' grass pavers; well water for landscape irrigation, which is recycled within the property; and use of a bridge design that minimizes impacts on the creeks within the property.
The community boasts a three-building amenity complex which includes a community coffee shop, marketing center, outdoor gathering spaces, poolside pavilion with fireplace, a fitness center/exercise room, play areas, lap pool and resort-style pool overlooking the lake. The first phases of Windsong Ranch will consist of 275 single-family residential homes with lot delivery scheduled for January 2014 with a Model Home Grand Opening anticipated for early Spring 2014. The Commons amenity center will be completed in April 2014. More information about Windsong Ranch can be found at http://www.WindsongRanchLiving.com.
ABOUT TERRA VERDE GROUP -- Richardson-based Terra Verde Group, LLC, is a real estate investment firm focused on the purchase of opportunistic and distressed industrial, commercial and residential real estate assets. Its principals have decades of combined experience in investments and development in the real estate marketplace and account for more than $6.5 billion of sales in real estate product. TVG delivers risk-adjusted rates of return, which exceed expectations and build and sustain investor trust throughout the investment cycle. TVG creates significant added value by engineering and executing smart, disciplined, proactive management and capital strategies, while adhering to the core values it shares with its partners.
For Terra Verde Group:
Carey Marin, 214-914-1157
The Commons amenity center
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