Garland Approves Land Sale and Secures $12+ Million Infill Housing Development
Fri, February 22nd, 2019
After lengthy negotiations, Garland has approved an exciting new townhome development in South Garland near the intersection of East Kingsley and Centerville Roads. As agreed, Kingsley Homes LLC will purchase 3.3 acres from the Garland Foundation for Development, Inc. to expand their proposed project to the east of the 3.5 acres they currently own in the 300 block of East Kingsley Road.
“We have seen tremendous growth in the housing market in Garland over the past five years. Homes in the area have been selling quickly as there is demand for high quality housing closer to major employment areas,” said Sunil Mosa, Kinglsey Homes LLC.
As planned, a minimum of 56 townhomes will be built on the newly consolidated 6.8 acre project site. Each multi-level unit will contain at least 1,850 square feet and include a two-car garage. Home prices are expected to start at $250,000 and climb into the low $300,000s. Sales for this product and location are anticipated to be brisk.
“There have been many new townhome projects built in the Metroplex over the last few years which has ignited additional interest by consumers and developers for this product. Most of them have been extremely successful and sold most of their inventory even before completion," Sunil Mosa added.
Numerous residential infill and redevelopment exploratory opportunities are underway across Garland. Analysis for this particular infill project revealed that the average home within a 1 mile radius of the planned site was built in 1964 and that new owner-occupied residential development was in high demand. Although homes in the general area tend to be older, they have held their value quite well and recent sales of existing homes averaged $175,000 per unit. The approved Kingsley Homes townhome project will secure more than $12 million in new residential value for this part of South Garland.
Other residential infill projects underway in the southern part of the community include Heron’s Bay Estates’ 125 single family homes near the intersection of Wynn Joyce and Broadway and Hillside on the Lake, near the intersection of Rowlett and Roan, which is now in the closeout phase of their 63 single family home development. Both of these infill projects offer new homes starting in the mid $300,000s.
The Kingsley Homes project is the first exclusively-townhome development to enter the South Garland market. Over the past few years, mature areas of Garland have experienced more interest from developers as much easier greenfield sites have all been developed. Housing construction across the Metroplex continues to be driven by sizeable numbers of new residents relocating to all parts of North Texas.
“We want to be a first option when people are considering relocating in the Metroplex or from out of state. Until quite recently, Garland didn’t have many options when it came to townhouses. This townhome project will help diversify Garland’s housing stock and continue investment in this critical component of our local economic base,” said David Gwin, Garland’s Director of Economic Development.
Garland’s has been the target of numerous building material manufacturers and suppliers relocations. Late last year, Quest Window Systems announced the company’s first U.S. manufacturing facility will be in Garland’s newly-constructed Jupiter Miller Business Park. Numerous window companies, door providers, building material suppliers and contractors have a presence in the community. Early in 2018, Osburn Contractors moved their corporate headquarters to the former Interceramic office location on Jupiter Road.