Developer buys land in Frisco’s massive Fields community for rental homes
Republic Property Group is the newest player in the big mixed-use project north of Dallas.
Another builder is getting on board with Frisco’s $10 billion Fields development.
The 2,500-acre community being built on the Dallas North Tollway is one of the largest mixed-use projects in North Texas. The sprawling land development surrounds the PGA of America’s new headquarters and two golf courses.
The Frisco project, which stretches between Preston Road and U.S. Highway 380, is planned to have as many as 14,000 homes and apartments plus commercial space.
Dallas-based Republic Property Group just purchased a site near Panther Creek Parkway.
Republic Property is best known for its 7,200-acre Walsh community southwest of Fort Worth and the more than 1,000-acre Light Farms in Celina.
The developer has acquired more than 30 acres for its project in the Fields community.
“They will build about 270 upscale rental homes,” said developer Fehmi Karahan, one of the partners in the Fields project. “We are very excited to add this type of product to our offerings in Fields.”
Karahan said the Fields’ owners, which include Hunt Realty and investors Chief Capital and Crosstie Partners, will partner with Republic Property on the project.
“We will be starting some grading soon but plan to begin in earnest in July and August,” Republic Properties Tony Ruggeri said.
Republic Property is the second residential developer to acquire building sites in Fields.
Arizona-based Taylor Morrison Homes — a builder that’s well known in North Texas for its quality housing — purchased land for almost 500 single-family homes last year.
Hunt Realty and Karahan bought the land for the Fields development in 2018 from the estate of the late Dallas businessman Bert Fields Jr.
Along with the residential communities, the Fields development will have commercial building districts with office, retail and other uses along the tollway and U.S. 380.