PROSPER - Gehan Homes and First Texas Homes have bought 121 acres of land at La Cima Blvd. and First St. within the Lakes of La Cima master-planned community that had landed in foreclosure.
The Lakes of La Cima has 943 single-family home lots and 133 acres of retail land. It is along Coit Rd. north of US 380.
Gehan Homes bought 32 acres of land east of La Cima Blvd. and First Texas Homes bought 89 acres of land west of La Cima Blvd. The residential zoning allows for 80-foot and 100-foot single-family home lots.
Branch Banking and Trust (BB&T Bank) has held the property since it was foreclosed September 2011.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.