A Dallas-based land developer plans to build a new housing community in North Texas.
Corson Cramer Development announced plans to develop a new residential community on more than 40 acres of land acquired by Hicks III Investments Inc. just outside of McKinney, the Dallas Business Journal (DBJ) reported.
The 43-acre development project is expected to deliver more than 100 new single-family lots to development partner Houston-based Perry Homes, with early price estimates ranging from $500,000 to $600,000.
The working relationship between the two Texas-based real estate-centric firms began in 2021 with a 783-home residential project called North Sky, situated roughly 15 miles from the firm’s newly acquired development site.
Since its founding in 2021, Corson Cramer Development has made six land acquisitions. The site near McKinney is the developer’s first project in the area, according to Larry Corson and Brian Cramer, co-founders and managing directors at the Dallas-based firm.
Other development projects by the company include Cross Creek Meadows and Ten Mile Creek, both located in Celina.
“Our ability to be nimble — moving quickly and decisively — was key in this deal coming together,” Corson said.
“We were able to close this acquisition and deal with Perry Homes in a smart and timely manner,” he told the DBJ. “Both are crucial, particularly in today’s residential real estate market.”
The proposed development site was an ideal investment target for Corson Cramer Development due to its “great location” along the northeast corner of Weston Road and Trinity Falls Parkway, according to Cramer.
The company’s professionalism, competency, and work ethic were a huge benefit during the early process, according to Larry Delzell, senior vice president of land acquisition at Britton Homes & Perry Homes.
“At Perry Homes, we have had a long and valued relationship with both Brian Cramer and Larry Corson. This is the second deal we have contracted with Corson Cramer Development, and we hope to do many more,” Delzell told the DBJ.
It is unclear whether Corson Cramer Development has plans to develop a residential community in Dallas proper, but if so — and if the project is built from the ground up — the firm will have to contend with the city’s slow and strenuous permitting process.
