Taylor Morrison Home Company (NYSE: TMHC), Christopher Todd Communities Close on 20 Acres in Melissa

Rhea-AI Summary

Taylor Morrison Home Company (NYSE: TMHC) has finalized the acquisition of approximately 20 acres of land in Melissa, Texas, in collaboration with Christopher Todd Communities. This site will be developed as a mixed-use project, featuring residential and commercial spaces, including a private amenity center and retail components. The project received unanimous approval from the City of Melissa and supports the extension of Melissa Road for improved access to the 2,000-acre Trinity Falls community.

Positive

• Acquisition of 20 acres for mixed-use development enhances growth prospects.
• Project approved unanimously by the City of Melissa, indicating strong local support.
• Development includes high-quality housing and commercial amenities, attracting residents.

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Taylor Morrison Home Company (NYSE: TMHC), in partnership with Christopher Todd Communities, closed on a +/- 20 acre tract of land in the City of Melissa.

Ryan Turner, Collins Meier, David Davidson, Jr., and Edward Bogel of Davidson Bogel Real Estate, LLC brokered the transaction. Representing one of the key intersections in Melissa, the site is planned for a mixed-use development of residential and commercial. Melissa Road is currently being extended and expanded giving residents in the 2,000-acre master-planned community, Trinity Falls, direct access to N. Central Expressway.

The Seller partnership worked cohesively with Sunny Patel, Taylor Morrison’s Build-to-Rent, Director of Land Acquisition, to get the project approved. The parties worked with the City of Melissa to design a plan that will provide high-quality housing for residents including a private amenity center and event space, but also ensure that there will be a retail component to the project. The project, which was unanimously approved by Melissa, included the Seller’s retaining +/- 3 acres on the hard corner of the intersection for further commercial and retail options that will serve as amenities to nearby residents and is being marketed by Davidson Bogel Real Estate.

About DB2RE

Davidson Bogel Real Estate (DB2RE) is a boutique land investment advisory group and brokerage firm headquartered in the Dallas-Fort Worth Metroplex. Founded by David Davidson, Jr. and Edward Bogel in 2015, the base principal of the company is exceptional client service with investment and development of land throughout Texas and Oklahoma as the focus. DB2RE concentrates on land acquisitions, dispositions, and investment sales for families, trusts, and developers of retail, multi-family, industrial/mixed-use, and single-family communities.

For more information, visit db2re.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220202005654/en/

Shawn Burns

sburns@db2re.com

Source: Davidson Bogel Real Estate

FAQ

What is the significance of the land acquisition by TMHC?

The acquisition of 20 acres in Melissa, Texas, will allow TMHC to develop a mixed-use project that combines residential and commercial spaces.

When was the land acquisition for TMHC approved?

The project received unanimous approval from the City of Melissa prior to the closing of the land acquisition.

What type of development is planned for the land acquired by TMHC?

TMHC plans to develop a mixed-use project that includes residential housing and commercial facilities.

How does the project planned by TMHC benefit the local community?

The project aims to provide high-quality housing and retail options, enhancing the living experience for residents in the Trinity Falls community.