WYLEY, Texas — This article was originally published by Dallas Business Journal content partners. You can read the original version here.
Collin County continues to grow at a rapid pace, with a new housing community slated to open in Wylie this October.
The neighborhood, called Inspiration by Ashton Woods, will feature 287 single-family homes based in the 1506 Emerald Bay neighborhood on the shores of Lake Lavon. Amenities include a resort-style pool, fitness center, playground, dog run, and a fully stocked fishing pond.
Dallas-based Huffines Communities is the developer responsible for building the project’s infrastructure. Sue Blankenship, senior vice president at Huffines, said the company is one of the largest residential developers in North Texas, and in August announced that it would be investing in Atlanta-based homebuilder Ashton Woods and Dallas-based First. It was sold to Texas Homes.
Both Ashton Woods and Huffines declined to pay for the project’s development costs. Home prices range from $493,000 to $590,000, and square footage ranges from 2,096 square feet to 2,967 square feet. Inspiration at Ashton Woods is part of Huffines’ broader Inspiration master-planned community, which has included more than 2,000 homes to date, according to a Huffines news release.
“The inspiration is about lifestyle and amenities and even a suburban master-planned community,” said Kayla Horton, vice president of sales and marketing for Ashton Woods. “So…(it’s) interesting to us as a builder, and (we’re) looking for opportunities to continue to expand what our offerings are in the marketplace.”
The median list price for homes in Wylie, a town of more than 62,000 people nine miles east of Plano, is $483,000, according to Zillow. The median sales price is approximately $467,000. Zillow’s statistics include both existing and newly constructed homes.
Nicky James, studio manager at Ashton Woods, said the new community is “design-centric” and caters to residents interested in customizing their living spaces. Residents who prefer a quiet suburban lifestyle will most enjoy this area.
While some cities in Collin County are accelerating their growth, others are choosing to slow down. On Sept. 23, City Council members in Princeton, a city of more than 17,000 people north of Wylie and east of McKinney, announced plans to reduce housing costs to slow growth and better assess infrastructure, the Information reported. passed a temporary moratorium on new construction. WFAA report.
Rapid growth is often a sign of prosperity, but Princeton city officials are concerned that recent growth is putting a strain on essential services like water and road infrastructure. The suspension of activities is expected to last 120 days.
In addition to Inspiration, Ashton Woods recently opened its first community in the Mansfield area in early August. Parkside is a townhome community located at 602 Blue Ridge Drive. The development offers 129 lots with two-story, three-bedroom townhomes priced from $390,000 to $420,000.
In addition to Inspiration, Huffines Communities is known for large-scale master-planned home-based developments throughout North Texas, including Viridian at Arlington Waterscape in Royce City and Heartland at Forney.
Huffines received interest from more than a dozen builders for the 73-acre Inspiration by Ashton Woods site due to the success of the broader Inspiration community, according to a Huffines news release. No brokers were involved in the transaction, and Mr. Huffines will remain on the project to pay development costs on behalf of the buyer.
“Huffines Communities is excited to announce our partnership with First Texas and Ashton Woods as we believe this will further enhance the appeal of this exceptional master-planned community.” Huffines Communities co-founder Philip Huffines said in a statement. “Inspiration is a great example of our focus on creating truly exceptional environments for our residents. Buyers share our commitment to excellence and embrace Inspiration’s vision and values. We are confident that we will create a truly excellent living environment.”
Inspiration, which broke ground in 2014 and sits on more than 700 acres of land on the shores of Lake Lavon, already has seven builders involved in its development. This community features a luxurious amenity center with a lazy river, three pools, and a 3,000 square foot gym.
