Jun 17, 2014, 12:02pm CDT   

LENNAR CORP. BUYS EULESS TRACT FOR NEW PROJECT

Lennar plans to build 60 homes on its latest acquisition, with expectations to break ground in early 2015.

Candace Carlisle

Staff Writer- Dallas Business Journal

Miami-based national builder Lennar Corp. has bought a tract of land within the Bear Creek Riverwalk development in Euless for a new residential, apartment and commercial development near Dallas/Fort Worth International Airport.

Last year, Lennar bought 55 acres of land within the project to build 200 homes. This latest purchase at State Highway 183 and State Highway 360 in Euless is the builder’s third land deal within Bear Creek Riverwalk.

Lennar plans to build 60 homes on its latest acquisition, with expectations to break ground in early 2015.

Terms of the land sale were undisclosed. Andrew Prine of Stratford Group LLC and Tim Coltart of Realty Capital Management LLC worked on the deal.

“We are very pleased with the positive response to our Dominion at Bear Creek Development, and we are happy to expand our commitment to this community,” said Greg Urech, Lennar’s vice president of land and acquisitions.

The site is expected to include commercial development after homebuilders finish development on those home tracts. The Bear Creek Riverwalk development has been evolving over the past several years.

Candace covers commercial and residential real estate and sports business.