Houston JV Continues Buying Spree with 1,700-Acre Master Planned Community

Houston-based Johnson Development Corp., in partnership with Tricon Capital Group Inc., acquired the 1,700-acre Trinity Falls master planned community in McKinney, TX. Castle Hill Partners, based in Austin, TX, was the seller.

Trinity Falls, one of the largest master-planned communities in Collin County, north of Dallas, will have approximately 4,000 single-family homes, and commercial and retail components. The community, so far, sold close to 700 house sites to regional and national builders, with 300 houses completed.

The deal is the partnership’s second in North Texas; a year ago, it acquired Viridian, a master-planned community in Arlington, TX, between Dallas and Fort Worth. In late 2013, the partners acquired the 2,046-acre Grand Central Park in north Houston, and the year before, snagged the 3,200-acre Cross Creek Ranch, in West Houston.