Qualico Communities DFW Celebrates First-Year Successes
Dallas-Fort Worth, TX – Since Qualico Communities officially opened in Dallas-Fort Worth (DFW) in January this year, the business unit has started the initial work of securing land and scheduling construction for the development of five different communities throughout the Metro DFW area.
Gideon Grove 2 is located in Rockwall, Texas and will include 84 lots on 30 acres of land. Construction for Qualico Communities’ inaugural development started in June this year.
Also located in Rockwall, is Nelson Lake, which will have 260 lots on 121 acres of land. Construction of this community will begin in December, with lot delivery expected in the end of 2022.
In Celina, Qualico Communities will be developing the community of La Terra, which will include 386 lots on 96 acres of land. Phase 1 will include 142 lots, with construction starting in January 2022. Lots are expected to be delivered to homebuilders in the first quarter of 2023.
Pacesetter Homes will be the exclusive builder in the Elevon community that will be located in Lavon, Texas. The development will have 259 lots on 41 acres of land, with construction expected to start in January 2022. Lots are expected to be delivered in early 2023.
Finally, Pecan Creek will be located in Aubrey, Texas and will include 279 lots on 81 acres of land. Construction on this community will start in December this year, and all lots will be released in early 2023.
The market in the DFW area is booming, and according to John Vick, Vice-President, Qualico Communities, DFW, there is currently a lack of lot inventory, which can affect homebuilders’ growth.
“The recent growth in homebuilding in the market has pushed home construction starts to record levels,” he said. “Historically, a 24-month supply of finished lot inventory is considered equilibrium, but DFW has dropped well below that level. Additionally, the rate of current starts for new lot development is still below the home start rate, and as such, the lot supply is not expected to improve in the next year.”
This is significant, as these lots go towards building the pipeline for Communities DFW, as well as contributing to the growth plans of Pacesetter Homes in the DFW market.
Thankfully, Qualico Communities’ presence in the DFW area will have a positive impact on Pacesetter Homes’ growth plan in the future, because with access to Qualico Communities’ acquired land, Pacesetter Homes will be able to continue providing quality homes to customers in the area.
“Lot acquisition in the DFW market has shifted toward land and paper lot sales,” explained Blake Friesenhahn, Vice-President, Pacesetter Homes, DFW. “Qualico Communities increases the opportunity for Pacesetter to acquire lot positions in desirable locations, provides access to other lot positions through the exchange of lots with other builders, and assists in sourcing additional lots that are needed to meet our future growth plans.”
John noted that along with tighter lot inventory, there are some challenges in the market with higher pricing for materials, due to shortages related to hurricane season and high demand for the materials.
Despite this, there’s a lot to be optimistic about in terms of current successes and future opportunities in the DFW area.
“I'm very pleased with what we've been able to accomplish in our first year in beginning to establish Qualico Communities in DFW,” John said. “We've had a great start and we hope to continue to grow that footprint and add additional projects. Next year, we hope to really create a sustainable pipeline of lot development for Communities and to support Pacesetter Homes.”
Developing these communities within metro areas outside of the city core has proved to be a good move for Qualico Communities, since one of the lasting effects of COVID-19 has been people working remotely from home who are no longer tied to a specific location for their jobs. That’s meant increased interest in perimeter locations for housing.
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