Developer Cameron Castaldo Bets Big on North Texas

A 25-year-old developer is making a bold move on North Texas’ northward march, aiming to complete a 1,300-home master-planned community in Pilot Point, a small but fast-rising city halfway between Dallas and the Oklahoma border.

Cameron Castaldo, founder of One Mark Advisors, closed on 363 acres for $27 million earlier this month and plans to transform the site into Maverick Farms, a sprawling neighborhood with roughly 1,348 homes, trails, a lake-style water feature and two amenity centers, according to the Dallas Business Journal. His firm purchased the land, at 12255 Mustang Road, from Ari-Tex Electric on Nov. 4.

Castaldo entered real estate as a teenager, skipped college, built capital through residential and land sales and launched One Mark Advisors in 2023.

The project will roll out in four phases over the next decade, with full buildout targeted for mid-2036. Castaldo broke ground in November and expects to deliver the first 539 finished lots to homebuilders by the end of 2026. CastleRock Communities, Mattamy Homes and David Weekley Homes are signed on for the first phase, with marketing underway for a fourth builder next year, according to the Dallas Business Journal.

Homes will sit on 40-, 50- and 60-foot lots, with floor plans ranging from about 1,600 square feet to 4,000 square feet. Entry-level pricing is expected to start at about $280,000, the publication reported, undercutting Pilot Point’s average home value of roughly $338,000, according to Zillow, and reinforcing the area’s appeal to buyers priced out of closer-in suburbs.

Total development costs are projected at $90 million to $95 million, with Castaldo pegging the community’s full buildout value at about $548 million. Trez Capital provided acquisition and development financing, while KFM Engineering & Design is serving as development consultant and engineer, according to the Dallas Business Journal. Lenart Development is the general contractor.

Beyond homes and amenities, Maverick Farms will include a regional wastewater treatment plant designed to support future growth north of the site, a piece of infrastructure that could make the project a catalyst for additional development.

Pilot Point, with a population of about 6,800, sits near some of the Metroplex’s hottest growth corridors. Celina, just to the southeast, has ranked among the nation’s fastest-growing cities, while Sherman to the north is seeing a multibillion-dollar semiconductor manufacturing boom. Other developers and retailers, including Green Brick Partners, Centurion American and H-E-B, have already planted flags nearby.

— Eric Weilbacher