Rural Land Development

Oxford Farms, Prosper

The first time I looked at this land deal there was a fellow on a tractor bailing hay. This wasn’t the urban or suburban land I was used to. It wasn’t even exurban, it was rural, but it was also pretty and it was peaceful. The plan was to subdivide a 140-acre tract of land into large lots ranging from 2-acres to 10-acres with gravel roads and no city utilities.

The site was approximately 27 miles north of LBJ Freeway, at the time well past what was widely accepted as the northern boundary of Dallas. But it was less than a half-mile east of Preston Road, placing the land squarely within what would become the Golden Corridor when the Dallas North Tollway expanded northward.

It appeared as if the project would meet with healthy demand and produce strong margins. The land was pretty, with gently rolling hills, buyers could have horses and barns, and the lots would be very affordable, starting at about $35,000. Also, the land wasn’t within the boundaries of any city, which meant much easier development codes which made the project easier, faster, and cheaper to develop.

Location

Project Gallery