Apartments, more single-family homes coming to Joe Pool Lake community

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Developer Hanover Property Co. will build a $43 million apartment community on Joe Pool Lake in Grand Prairie.

The project is part of the Mira Lagos master-planned community, which Dallas-based Hanover is developing with Alpha-Barnes Real Estate Services.

Work on a new single-family-home community is also underway in Mira Lagos, which is on the peninsula at Joe Pool Lake on Lake Ridge Parkway and has 2,000 houses.
“This addition of luxury apartments in Mira Lagos introduces another high-end product for those who prefer to rent rather than own in a master-planned community,” Dick LeBlanc, president of Hanover Property, said in a prepared statement.

The Enclave at Mira Lagos apartments will have 310 units; 199 will be built in the first phase. Demarest Architecture designed the buildings.

The apartments will also have a clubhouse, a fitness center and a large resort-style pool.
Located south of Interstate 20, the 1,000-acre Mira Lagos will have 171 lots in the next phase of single-family homes. Houses are planned by Grand Homes, Bloomfield Homes and First Texas Homes and will be priced from more than $300,000 to almost $700,000.

The Keller Williams Story: Who's Who in the Field

Best places for vacation home deals.

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Dallas-area home sellers are raising their sights on what they expect properties to fetch at sale.
In June average asking prices for Dallas-area homes were up 8.1 percent from a year earlier, according to a new report by Trulia Inc.
That’s the same annual increase found when it looked at home list prices in the 100 largest U.S. cities.
Some markets are still seeing bigger jumps in home asking prices.
Average home list prices in Riverside, Calif are up 16.9 percent and they are 15.7 percent higher in Atlanta than in June 2013, according to Trulia.
“But despite this national slowdown in price gains, price increases continue to be widespread, with 97 of 100 metros posting year-over-year price gains – the most since the recovery began,” says Trulia chief economist Jed Kolko.
So far in 2014, median home sales prices in North Texas are running 8 percent ahead of where they were in June of 2013.

D-FW new home prices soaring thanks to higher costs

Provided By:dallasnews.com

New home prices are soaring in some North Texas neighborhoods, thanks to rising construction costs and higher land prices.

Metrostudy Inc. reported Friday that median new home prices in the Dallas-Fort Worth area have risen 24 percent since 2011 to $269,400 at midyear.

In popular areas, prices have gone up even faster, the housing consultant reports.

New home prices have risen 86 percent in North Dallas, are up 43 percent in Frisco and 36 percent higher in McKinney over the last three years, according to Metrostudy.

“Only 25 percent of the new home closings in the second quarter were for homes priced under $200,000, down from over 40 percent in 2011,” the new report says. “The higher prices are forcing many buyers to the nearby submarkets of Melissa, Anna, Celina, Little Elm, Oak Point and unincorporated areas of Denton and Collin counties.”

Median new home costs in North Texas are now more than a third higher than the median sales price for a preowned single-family home.

 

Metrostudy reports that home starts in the D-FW area were up 2 percent from a year earlier.

“We are expecting a 10 percent to 15 percent increase in starts during 2014, with the largest share of the increase coming from the first quarter,” Metrostudy’s David Brown said.

Metrostudy found that fewer than 3,000 finished available new houses were on the market in North Texas at the end of June. That’s down 12 percent from a year earlier.

Leasing kicks off for Victory Park apartment tower

Provided By:dallasnews.com

Atlanta developers who are building a highrise apartment in Dallas’ Victory Park are opening a leasing center and are ready to show off the building.
Novare Group said Tuesday that it begins previewing the property next week from a marketing center at 2308 Victory Park Lane.
The 24-story SkyHouse Dallas apartment tower is under construction on Woodall Rodgers Freeway on the north edge of downtown Dallas.
The first of the 336 units will be available for move in starting in November, Novare Group says.
Novare Group and Simpson Property Group built SkyHouse Dallas. They have just opened a similar SkyHouse Austin building and will SkyHouse Houston later this month.