Johnson Development Corp. is in talks to purchase the $1.3 billion, 1,700-acre Trinity Falls development north of Plano, Texas as the company aims to expand its operations in North Texas, according real estate brokers who are tracking the deal and reported by Steve Brown, real estate editor for The Dallas Morning News.
Trinity Falls opened in 2014 and has attracted home buyers who are workers for Toyota, which is building its new U.S. headquarters in Plano. The community has two resort style clubhouses, 450 acres of open space, more than 20 miles of trails, an amphitheater, play fields, canoe and kayak launches, fishing piers, nature trails, and retail and commercial components.
The development is ultimately planned for almost 4,200 homes and 1 million square feet of commercial space.
Austin-based owner Castle Hill Partners early this year hired Holliday Fenoglio Fowler LP to find a buyer for the unfinished portions of Trinity Falls.