The $300 million master-planned community that’s expected to include more than 2,800 single-family homes in Princeton, Texas, has been acquired by Mesa, Arizona-based developer Macavity Co., reports Dallas Business Journal staffer Candace Carlisle.
In addition to the homes, the 860-acre master-planned community, called Whitewing Trails, is slated to include a new elementary school and the Princeton City Hall.
"The market lacks a carefully planned community with all the amenities desired by today's home buyers," said Macavity President and Principal Lane Spencer, in a statement.
The homes within the community will be priced in the low $200,000s to the low $300,000s upon completion, officials say. Construction is slated to begin in January.