Tellus Group, along with Caravel Ventures, Sumitomo Forestry, and Schaffer Michael, has announced the purchase of approximately 1,100 acres in Forney, Texas. The acquisition is for a new $1.5 billion master-planned community, Tapestry, which will be the first Tellus Group community on the east side of the Dallas-Fort Worth metroplex.
“As we add Tapestry to our portfolio of projects, we are excited to continue to offer lot positions to incredible builder teams that we have worked with for years,” says Craig Martin, CEO and founding partner for Tellus Group. “There is a lot of growth happening in Forney. Tapestry will be perfectly positioned as a truly great family community with easy access to the major employment hubs in the greater Dallas area.”
Slated for summer of 2024, the initial property release will include homesites ranging from 40- to 70-foot lots with homes built by some of the area’s top builders. Townhomes are expected to start in the high $200,000s and single-family homes in the low $300,000s. Designs for the community are in the planning stages, but they currently entail hike and bike trail systems, parks, amenity centers, preserved open spaces, and several lakes with fishing piers.
“Tapestry will be a community for families to enjoy for generations,” says president and chief operating officer David Blom. “This ‘lifelong’ community will be where young families and couples can purchase their first home, then as their family grows, build their forever home. At Tellus, we pride ourselves on developing residential communities of the highest quality and using thoughtful land planning that ‘wow’ families and create close-knit neighborhoods with a true sense of community. We want anyone living in a Tellus community to know they live somewhere very special, and their lives will be richer for it.”
