A Dallas development firm has purchased more than 85 acres of land in Rockwall, the Dallas Business Journal reports.
The land purchase clears the way for a single-family housing development. The buyer is Skorburg Co., a Dallas land and residential firm, and the land it purchased has been rezoned for the potential new development.
Skorburg acquired the property in July, and the land was approved for the necessary zoning changes from agricultural to a single-family development by the Rockwall Planning and Zoning Commission on August 1.
According to city filings, the land is permitted for a maximum of 250 residential units and will include an amenity center on the site, taking up about 4.8 acres of land.
Some of the community names include Winding Creek, Nelson Lakes, and Homestead. These sites, labeled as based in Rockwall, are listed as coming soon.
Founder of CRE Land Group Cooper Eddy, who brokered the land for the seller, told the Dallas Business Journal that the sale for the land closed two weeks early at the full asking price.
The CRE Land Group focuses on residential, industrial, and investor-track land. Prior to becoming a land broker, he worked with a Boston Red Sox minor league team.
In describing his business strategy, Eddy explained, “I just put my head down and sell land.”
Eddy said this particular parcel of land, located between John King Boulevard, Hays Lane, and Quail Run Road, was one of the largest land sales in Rockwall and had received more than a dozen offers. The property was first listed for sale in April, Eddy said.
The CRE Land Group has been making land sales based in the Dallas-Fort Worth area since January 2021.