Nearly 900 single-family homes are earmarked for a slice of land in an emerging corridor of the fast-growing Dallas-Fort Worth region.
Vanguard Real Estate Advisors said it represented Clairemont Development Group of Fort Worth in its purchase of 240 acres on the east side of State Highway 78, three miles south of downtown Farmersville, Texas. The city, with about 4,100 residents, is roughly 45 miles northeast of Dallas.
Clairemont assembled three parcels from two ownership groups and secured the necessary approvals for 891 single-family lots, according to Jordan Cortez, managing principal of Vanguard. Terms were not disclosed.
The Dallas metropolitan area is the third-fastest-growing region in the nation, adding nearly 178,000 residents between 2023 and 2024, according to the latest figures from the U.S. Census Bureau. The New York-Newark-Jersey City metropolitan area is first with more than 213,000 new residents, while Houston is second with more than 198,000.
In the Dallas-Fort Worth region, larger towns such as Celina, Fulshear and Anna are among the nation's fastest-growing municipalities with at least 20,000 residents, Census data shows.
The national homebuilders Vanguard will be working with are squarely focused on Texas, according to Cortez.
"Dallas is the bright spot for them, the shining star," he said in an interview.
Farmersville, west of Princeton, Texas, offers highway access. What's more, Farmersville schools have an excellent reputation, according to Ted Wilson, principal of the Dallas-based Residential Strategies consulting firm.
Farmersville's primary active housing development is Lakehaven, a master-planned project across from the Clairemont site. Meritage Homes and Green Brick Partners' Trophy Signature Homes have combined to produce 200 starts and 353 sales in the past four quarters, according to Residential Strategies data.
"As Princeton begins to build out, builders and developers have begun reviewing potential positions in this area," Wilson said in an email.
Clairemont is a lot developer that partners with homebuilders, Cortez said, but it's unclear whether the company has identified any builders for the Farmersville site. Josh Dyer, a principal at Clairemont, did not immediately return calls seeking comment.