Taylor Morrison Home Corporation (NYSE: TMHC) announced Wednesday that it is expanding its Taylor Morrison brand into the Dallas market with the opening of a new division, Taylor Morrison Dallas. The move was expected.
The new division will join the home builder's other brand, Darling Homes, in the Dallas-Fort Worth Metroplex in early 2017 with the opening of two new communities, The Tribute Lakeside Golf and Resort in The Colony and Auburn Hills in McKinney. Scott Schwanke, division president of Darling Homes Dallas, will also serve as division president for Taylor Morrison's local operations.
"We're pleased that the Taylor Morrison brand has officially entered its third Texas market," said Sheryl Palmer, president and CEO. "This is a testament to our growth as a brand and our continuing expansion as an industry leader."
Taylor Morrison Dallas will generally be focused on the $300,000 to $500,000 price point, which research has shown is under served in the Dallas real estate market, while Darling Dallas will continue to personalize its homes for buyers.
An added benefit for both brands will be Taylor Morrison's role as a land developer.
"We've seen a lot of excellent synergies between Taylor Morrison and Darling Homes in the Houston market, where we have operated under both brands for some time," said Charlie Enochs, central area president. "Utilizing Taylor Morrison's expertise as a land developer in Dallas will allow us to have control of our own land parcels and have access to more opportunities that aren't typically available to finished lot builders, better enabling us to have access to the best land in the best locations."
Taylor Morrison Dallas' new community, The Tribute, will offer an active lifestyle community with single-level patio homes, lakefront and golf course views as well as a proposed lakefront amenity center, while Auburn Hills will consist of single and two-story homes within a highly sought after gated community.
"Both of these communities will feature Taylor Morrison and Darling Homes, giving us a more significant presence while at the same time enabling us to really show Dallas home buyers what differentiates us from the rest," Enochs said.