A community northwest of Dallas is close to reaching its full buildout potential and constructing its final homes.
Inspiration, a development owned by Huffines Communities, is close to having 2,200 homes. Since the first home was sold in 2014, the development has been a home run, said Haley Gigliotti, director of multifamily at Huffines Communities.
“We’ve added several acquisitions, add-on purchases, to keep expanding the community because of the demands for what Inspiration brought the residents out there,” Gigliotti said.
The community at 1715 Inspiration Blvd. next to St. Paul, is just shy of 2,100 built homes and is working to start construction on 180 remaining lots.
D-FW Real Estate News
Inspiration overlooks Lavon Lake and will eventually have about 2,200 homes. The rate at which the remaining homes sell will likely depend on interest rates, Gigliotti said.
As the community has grown, so has the range of home prices in the development. Gigliotti estimated the first home sold for about $200,000. But now the development’s homes have sold for over $1 million and the average price of a home in the development is estimated at about $500,000, she said.
Inspiration is on a site outside of the jurisdictions of any city, in an extraterritorial jurisdiction, allowing the development to set its own standards instead of following a city’s code, Gigliotti said.
“We’re going to hold our residents to high quality, to keep the home values high,” Gigliotti said. “And look what we can build without a city telling us what to do.”
Within Inspiration, there is an elementary school, an amenity center, pools, parks, playgrounds and an HOA that puts on almost weekly events.
Huffines Communities also has several up-and-coming projects like Solterra Texas, a community in Mesquite. Soltera includes about 650 occupied homes and the project will continue for another five to seven years, Gigliotti said.
Other projects from the company also includes Horizon Lakes, close to Rockwall and Heath, and Lakesong, a 2,700-acre development near Midlothian.
Both communities don’t have homes yet, but Gigliotti said model homes will open late this year and homes will start selling.