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Frisco's $1.6B Phillips Creek sold out (six years ahead)Frisco's $1.6B Phillips Creek sold out (six years ahead)https://www.recenter.tamu.edu/news/newstalk-texas/?Item=75812015-09-01T05:00:00Z

FRISCO - Republic Property Group has sold the last tracts of land within the 950-acre master-planned community $1.6 billion Phillips Creek Ranch — six years ahead of schedule.

“We'll probably still have another three or four years of development, but 100 percent of the project has been committed to either builders or homebuyers. The success of the project and the velocity of home sales have greatly surpassed our expectations," Jake Wagner, co-CEO and partner of Republic Property Group said.

So far this year, Republic Property Group has sold 268 homes with an average home price of $590,000 at Phillips Creek Ranch in Frisco — the most expensive house sold for nearly $1.5 million.

In North Texas, the average cost of an existing home increased 13.4 percent year-over-year to $220,000 in Dallas-Fort Worth, according to the Texas Association of Realtors and The Real Estate Center at Texas A&M University.

At build-out, Phillips Creek Ranch will be home to more than 10,000 residents and will include 3,000 homes. 

Phillips Creek Ranch information center​ is located at 6515 Lone Star Ranch Parkway​.

Dallas Business Journal
Dallas-Fort Worth-Arlington
Housing
http://www.bizjournals.com/dallas/blog/morning_call/2015/08/six-years-early-republic-property-group-sells-last.htmlRead more at the {Source}

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