Castaldo Budgets $20M for First Phase of Maverick Farms

Cameron Castaldo, the 25-year-old founder of One Mark Advisors, plans to start building his Maverick Farms housing development outside of Pilot Point this month.

The first phase of Maverick Farms is estimated to cost $20 million for 539 single-family homes, according to a filing with the Texas Department of Licensing and Regulation. The filing shows construction on Maverick Farms will begin in March and wrap up in January 2027. TDLR filings are preliminary and subject to change.

The total development will have about 1,348 homes on over 363 acres of land that Castaldo purchased last November between Mustang Road and Joe Allen Road, about nine miles southeast of Pilot Point proper, according to previous reports.

Castaldo did not immediately respond to a request for comment.

According to the U.S. Census Bureau, about 7,000 people live in Pilot Point, a town on U.S. 377 near Ray Roberts Lake. Yet, the city’s government expects the population to swell rapidly.

Overall, the city counts about 20,000 new housing units in the pipeline, mostly outside city limits. Maverick Farms will draw utility service from the nearby town of Mustang, according to local reporting.

Ross Perot Jr.’s Hillwood struck a tax agreement with Denton County earlier this year for a 617-acre subdivision near Pilot Point called Lantern. It’s set to include over 2,000 homes, a Pilot Point ISD elementary school site, 27 acres of mixed-use space and more than 100 acres of open space. Mehrdad Moayedi’s Centurion American is also developing land around Pilot Point.

H-E-B recently purchased a 95-acre parcel in Pilot Point at the corner of FM 1385 and Mustang Road, about two miles down the road from the first phase of Maverick Farms. H-E-B is known for banking land before development. The red storefront has heralded swift population growth in Celina and Melissa, among other North Texas towns.

The Metroplex is sprawling northward, even nearing the Oklahoma border in some growth corridors. Pilot Point is on the same highway as Aubrey, where D.R. Horton sold hundreds of homes last year. The Dallas North Tollway and U.S. 75, which lead directly to Dallas, feed some of America’s fastest-growing cities, including Princeton and Celina. Sherman, a city on the border, is seeing rapid development thanks to an upcoming Texas Instruments facility, and D.R. Horton is leading a slew of developers on a homebuilding blitz elsewhere on the Red River in Bonham.