Austin-based PSW Real Estate has bought two land sites for residential projects near White Rock Lake as part of the builder's expansion into the North Texas market.
The developer and homebuilder opened a Dallas office in February, and plans to expand its presence in Dallas-Fort Worth with urban-style homes.
"With job growth, population growth and amenities throughout the urban core, PSW has focused our recent acquisitions within the 635 loop to North Oak Cliff and the Bishop Arts area," Adam Stetson, the division president for PSW, told the Dallas Business Journal in an exclusive interview.
Along with the two White Rock projects, PSW is building in two sites in North Oak Cliff near the Bishop Arts District. So far, the builder plans to develop 145 homes in North Texas this year.
The company is seeking to buy land sites elsewhere for development, Stetson told me.
"As the population in the south grows, there's a dire need for what we do with single-family detached homes at a low price point that are sustainable," he told me.
That's one reason why the builder selected the White Rock Lake area, which has seen a lot of investment recently, said Lane Kommer, a broker at Henry S. Miller Brokerage. Kommer worked on the land sale at White Lake Rock off of Emerald Isle Drive on behalf of the seller, JBK Greenrock Development LLC.
PSW Real Estate plans to break ground on the White Rock Lake projects by early 2014. The homes will be priced from the mid-$300,000s to the high $400,000s.
Source: Dallas Business Journal
Print
