Cambridge builds lakeside homes near Dallas

Homebuilding has slowed, but opportunities remain across the North Texas suburbs. 

Local developer Cambridge Homes is seizing the opportunity with its first community build in Rowlett.

The development will include 142 single family homes on 35 acres located off Miller Road and the George Bush Turnpike on the banks of Lake Ray Hubbard. The cost is estimated at $9.8 million, or about $69,000 per home, with construction set to complete this July, according to a Texas Department of Licensing and Regulation filing.

Prices haven’t been announced, but other Cambridge communities in North Texas are typically priced between $350,000 and $450,000 for a 2,000-square-foot build. 

The community, called Lake Park, will have a number of common spaces and recreational trails overseen by a homeowners association. The lake, outdoor amenities, the school district and convenient transit options into Dallas as being the top selling points of its new community, according to Cambridge’s website.

Cambridge Homes is based in Frisco and has been developing single-family communities in North Texas for over 25 years. The company has focused on suburban and rural North Texas communities like Van Alstyne, Anna and Allen. This will be its first development in Rowlett, which is 30 miles from downtown Dallas.

Considered a growing, upscale city, situated between Garland and the 23,000-acre Lake Ray Hubbard, Rowlett has seen a number of single-family and multifamily developments in recent years. Most notably the $1 billion, mixed-use Sapphire Bay project being developed by Zale Properties is set for completion in 2024. The 116-acre project includes a surf village and a water park, over 1,500 residential units, 1.7 million square feet of restaurant, retail, entertainment, office and hospitality space with 20 acres of parks and a 1,000 slip marina.

North Texas home builders took a hit in the latter half of 2022 with many companies halting production as demand in the region dwindled. Some companies saw new home production drop over 30 percent at the end of 2022 compared to the previous year. D.R. Horton, the state’s largest single-family builder, wrote off $34 million in a single quarter last year in costs related to land and home-lot contracts that it terminated or expects to terminate.