While the Dallas-Fort Worth metro area has tended to expand northward in recent years, Tellus Group is headed east — at least with its next development. The North Dallas company bought 1,100 acres in Forney, 20 miles east of downtown Dallas.
It will develop a $1.5 billion master-planned community called Tapestry on the property, which is in Kaufman County about six miles north of Highway 80 and 16 miles to the east of Lake Ray Hubbard. Caravel Ventures, Sumitomo Forestry, and Schaffer Michae will partner with Tellus on the project.
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It’s the first planned community on the east side of the Metroplex for Tellus, which developed the 2,000-acre Windsong Ranch neighborhood in North Dallas suburb Prosper.
Tellus did not release final plans for the community, but early designs include multiple lakes and fishing piers, hike-and-bike trail systems, parks, amenity centers and preserved open spaces.
The Tapestry developers plan to release the first properties in summer of 2024. They will include 40-foot by 70-foot lots and homes by established area builders. Prices for townhomes will start in the high $200,000s. Single-family homes will start in the low $300,000s.
The Dallas-Fort Worth-Arlington metro area added more than 1.2 million residents in the past decade, according to U.S. Census numbers. Five counties included in the Metroplex saw the largest number of new residents of any metro in the country in the past year. Forney, Texas, had a population of about 24,000 in 2020.