(FRISCO, TX– SEPTEMBER 18, 2012) Richwoods Development announced today its Richwoods community, located in Frisco, Texas has sold more than 130 homes in just six months and less than one year after breaking ground on the new, gated community.
“We are almost out of lots in our first phases, and the community hasn’t officially opened yet, said John Landon, CEO and Founder of Richwoods Development, Landon Development and Landon Homes. “Our success in Richwoods is a testament to the robust business climate here as well as the desirability of living in Frisco.”
In just six months, more than 130 home sites are under contract, construction has started on new homes and some Richwoods families have even moved into their homes – although the first two model homes were only completed in late April. Additional models are under construction now, along with the main entry gates and landscaping. An amenity center is scheduled to start construction this fall, and features a resort pool of about 8,400 square feet, with a looped slide and a variety of pod areas targeted to specific activities. The approximately 9,700 square foot community clubhouse, with about 3,800 square feet dedicated to a fitness center, is projected to be underway this fall as well.
“Location, schools and amenities are the top three things new home buyers look for when deciding on a community,” said Ted Wilson, Principal of Texas housing analyst Residential Strategies.
“Richwoods is centrally located near U.S.Hwy121 and work centers. It is in the prestigious Frisco ISD and boasts an adjacent middle school. The gated community is well appointed with luxurious landscaping, monumentation and a state-of-the-art four-acre amenity center. We expect to see an increase in new home sales as the economy continues to recover and that is good news for the entire North Texas region.”
Landon acquired the property in the spring of 2011, at a time when purchases of land for residential development had slowed in the DFW market. Development was expedited in reaction to the significant show of interest in the location by both homebuilders and prospective homebuyers.
Landon said he always felt this prime location would deliver huge success for Richwoods Development and the homebuilders selected to offer homes in Richwoods.
“Richwoods is unique among Frisco communities because of its location so close to both the Dallas North Tollway and the U.S.Hwy121/Sam Rayburn Tollway, gated entries, a clubhouse with a fitness center, resort pool and an array of parks and playgrounds,” said Landon.
Landon confirmed that additional phases with home sites of various sizes are already underway to meet the demand; and that the new Vandeventer Middle School adjacent to Richwoods is complete and open this school year.
Richwoods is a 506-acre property, with a projected eight-to-10 year build-out. Located just off Independence Parkway north of U.S.Hwy121, Richwoods is the only gated, luxury community in the entire southeast quadrant of Frisco. Landon Homes, Toll Brothers, K.Hovnanian Homes and Newcastle Homes offer new homes in Richwoods priced from the $300s to $700s. For more information, visit www.richwoods.com.