OAK POINT — A North Carolina firm is teaming up with a Dallas real estate developer to build a new home community in Denton County.
Crescent Resources LLC of Charlotte and Taylor Duncan Interests Inc. of Dallas formed a partnership to develop 250 acres for the project in the town of Oak Point.
The new owners have begun planning the Timberlake residential community, which will have 700 to 800 homes.
“Dallas-Fort Worth is one of the most attractive housing markets in the country, and the Oak Point property is well-positioned to satisfy the demand for new housing in North Dallas,” Andy Carmody, president of the residential division for Crescent Resources, said in a statement. “We are actively planning a community that will offer residents a thoughtful land plan, attractive amenities and a high-quality lifestyle.”
Oak Point is located south of U.S. Highway 380 on Lake Lewisville.
The land Crescent and Taylor Duncan acquired is on Shahan Prairie Road, east of FM720.
The developers expect home prices in the new community to range from around $250,000 to more than $300,000.
Crescent Resources has been in business since the 1960s and has properties in the Southeast and Texas. The developer has an apartment community in Austin and two residential communities.
Local partner Taylor Duncan Interests was founded by principals, Larry Taylor and Phillip Duncan, and specializes in residential land development.
— The Dallas Morning News