The Preserve will feature homes priced between $3 million and $25 million.
FRISCO, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Multimillion-dollar homes are now under construction in an elite custom community at Fields, a $10 billion, 2,500-acre mixed-use development underway just off the Dallas North Tollway.
Located within PGA Frisco’s championship golf courses and near the Omni PGA Frisco Resort, The Preserve will feature 233 luxury homes by 10 local homebuilders. In total, the elite home community spans about 267 acres.
Construction is already underway by Alford Homes, Coats Homes and Starside Builders. Other builders in the prestigious lineup — Bella Custom Homes, Endurance Homes, Faulkner Perrin Custom Homes, Hawkins-Welwood Homes, Shaddock Custom Builders & Developers, Sharif & Munir Custom Homes, and Ventura Custom Homes — will begin soon, according to an announcement.
Lot sizes range from 6,800 square feet to more than an acre. Currently, 105 lots are available for sale, priced between $500,000 and $3 million. Homes built on these lots are expected to range in price from $3 million to $25 million, North Texas developer Fehmi Karahan said.
“These are golf view lots in a gated community,” Karahan said. “I can tell you that [it is the] Highland Park [of the] northern suburbs.”
It represents a new level of luxury in this fast-growing and increasingly pricey suburb north of Dallas.
Amenities in the neighborhood include PGA golf courses, more than 20 miles of hike and bike trails, a swimming pool, a fitness center, tennis and pickleball courts, and a playground.
In total, the residential component of Fields consists of nine villages and neighborhoods, including the Preserve, Brookside, East Village, North Fields and University Village. At full buildout, Fields will feature 3,500 single-family homes.
Fields is a collaborative development and joint ownership project by The Karahan Cos., Hunt Realty Investments, Chief Partners and Cross Tie Capital.
Karahan is the visionary leading Fields West, a $2 billion urban district spanning 55 acres in the heart of the much larger Fields development, which is expected to be valued at more than $10 billion at buildout. Construction on Fields West began earlier this summer and is planned to be a massive business, retail and residential hub, similar to Karahan’s $3 billion Legacy West in Plano, home to Toyota Motor Corp. and other prominent companies.
Alongside the already established PGA of America headquarters and the Omni, Universal Studios is building a $550 million theme park at Fields, featuring rides, shows, restaurants and a 300-room hotel.
The development is a response to Frisco’s rapidly growing population, driven by an influx of corporate relocations and highly rated schools. Since 2005, Frisco has grown in population by more than 150,000 and was the fastest-growing city in Texas in 2020. Major employers in the city include T-Mobile, Amerisource, Oracle Corp., Ikea, the Dallas Cowboys, FC Dallas and TIAA.
