The Johnson Development Corp. of Houston and Toronto-based Tricon Capital Group Inc. teamed up to acquire Trinity Falls, the 1,700-acre master-planned community in McKinney, Texas, reports Dallas Business Journal staffer Candance Carlisle.
The site was acquired from Austin-based Castle Hills Partners; terms of the acquisition were not immediately disclosed.
“We have bought a number of other master-planned communities so when this came on the market, we looked at the great market area and decided to expand in the region," President and CEO Larry Johnson told the Dallas Business Journal.
"We are long-term players and we like to develop these kinds of communities out," said Johnson, who also is overseeing the build-out of master-planned community Viridian in Arlington.
Trinity Falls currently has about 300 single-family homes already on the ground and build-out is expected to have 4,000 single-family homes with adjacent retail and commercial space.