Painted Tree will be located north of US 380 near Lake Forest Boulevard, offering houses ranging from detached townhomes and cottages to larger family homes and luxury estates. Oxland Advisors, a Dallas-based development and consulting firm, will develop the community.
“With anything this size, you want to provide homes that fit different demographics, different life stages, different price points,” Oxland Advisors founder Tom Woliver said.
In addition to offering a an array of homes, the community will have a focus on nature and the surrounding environment, Woliver said. A 200-acre greenbelt sits in the middle of the site for the community, Woliver said, and the development will preserve much of it to include mature trees and a natural trail system as an amenity to residents. A trail system consultant was brought in to help ensure Painted Tree’s trail system will not only run through the community but also connect to the city of McKinney’s Erwin Park and Bonnie Wenk parks, Woliver said.
“There's been a lot of thought and detail planned into this trail-based, walk-inspired community,” he said.
In addition to the trail system, Painted Tree will also feature community parks, a community pool and a 20-acre lake, which is the largest lake in the area, according to a Oxland Advisors news release.
“That's a great thing about this site is, oh my gosh, we've got a 20-acre lake that's being rebuilt right now with trees and topography,” Woliver said. “That’s pretty unique in North Texas. So the land is telling us that we need to engage that and let's embrace it and let's get people in their homes to get out into these spaces and get out into nature.”
The 1,100-acre site was purchased earlier this month by New York-based JEN Partners. Green Brick Partners has been the first builder to close on lots at Painted Tree, and Woliver said his firm is in discussions with more builders.
Painted Tree will be broken into four phases, or districts, named after the topography of their sites. The Lakeside District, off of Lake Forest and Wilmeth, and the Village District, facing Wilmeth and Hardin, will be the first phases to get underway in 2021, with homes on the ground in 2022. Each district will feature a variety of homes and builders, Woliver said, with price points ranging from smaller $300,000 homes to luxury estates.
“That's what makes a good community,” Woliver said. “A community shouldn't be exclusive to one. It needs to be inclusive to all. Really the only way to get through 1,100 acres is to have variety. So you need to have a little bit of something for everyone.”