A wave of significant real estate projects is sweeping across North Texas, signaling sustained confidence and investment in the region's growth. From massive new residential communities on the shores of Lake Texoma to the transformation of downtown Dallas skyscrapers, developers are breaking ground on projects that will reshape local communities and add thousands of new homes to the market.
The activity spans the entire metroplex, touching suburban hubs like Frisco and Denison as well as established urban neighborhoods in Uptown and North Dallas. These developments reflect a multi-faceted approach to meeting the area's housing demand, encompassing luxury estates, high-rise apartments, and adaptive reuse of commercial buildings.
Key Takeaways
- Construction has started on a major residential community within the $6 billion Preston Harbor development in Denison.
- In downtown Dallas, Santander Tower's conversion continues with a second phase, adding over 100 new apartments.
- A new 387-unit apartment complex with retail space is set to replace a Tom Thumb shopping center in North Dallas.
- The first luxury home has been completed in Frisco's exclusive Preserve community, part of the massive Fields development.
- An Uptown apartment tower has been acquired by a new owner, marking its first entry into the Dallas market.
Massive Lakeside Community Breaks Ground
In Grayson County, work has officially begun on the residential component of Preston Harbor, a sprawling 3,100-acre master-planned development. The project, led by master developer Waterfall Partners, is set to transform 9.5 miles of shoreline along Lake Texoma.
Developer Centurion American is overseeing the initial residential phase on a 550-acre parcel. This phase is planned to include 1,184 single-family home lots and an additional 115 larger estate lots, with some parcels as large as seven acres. During a groundbreaking event on October 17, developers expressed optimism about the project's future impact on the region.
Preston Harbor by the Numbers
- Total Project Value: $6 billion
- Total Acreage: 3,100 acres
- Centurion American's Portion: 550 acres
- Planned Residential Lots: 1,184
- Planned Estate Lots: 115
The first lots are expected to be delivered to homebuilders before the end of 2026, paving the way for a new lakeside community designed to attract residents to the growing Denison area.
Downtown Dallas Skyline Continues to Evolve
While new communities rise on the outskirts of the metroplex, Dallas's urban core is undergoing its own significant transformation. A key trend is the adaptive reuse of office towers into residential spaces, a direct response to changing work habits and a high demand for city living.
At the iconic Santander Tower, construction is now underway on the second phase of its residential conversion. Project leaders Adolfson & Peterson Construction and building owner Pacific Elm Properties are set to transform five more floors into 105 modern apartment units. This follows the successful completion of phase one in October 2024, which created 291 apartments across 14 floors.
"The continued transformation of Santander Tower reflects our vision for revitalizing Dallas’ urban core through innovative mixed-use redevelopment," said Billy Prewitt, CEO of Pacific Elm Properties, in a statement about the project.
The project recently secured a $132.5 million loan, underscoring strong financial backing for the ongoing revitalization of one of downtown's most prominent buildings.
New Apartment and Luxury Home Developments Surge
The demand for high-quality housing is fueling new construction in Dallas's most desirable neighborhoods and suburbs.
Modera at The Hill in North Dallas
In North Dallas, developer Mill Creek Residential is preparing to build Modera at The Hill, an eight-story complex at 8081 Walnut Hill Lane. The project will feature 387 homes, including one-, two-, and three-bedroom units, as well as a limited number of townhomes. The development will also include 12,000 square feet of ground-floor retail space.
To make way for the new complex, an existing Tom Thumb grocery store and other structures will be demolished. However, officials confirmed that the popular Civil Pour Coffee + Beer will remain. First move-ins for the residential units are anticipated for the summer of 2027.
Luxury Living in Frisco's The Preserve
In Frisco, a major milestone was reached at The Preserve, a new 267-acre gated community, with the completion of its first luxury home. The development is part of the much larger 2,500-acre Fields project, which is rapidly becoming a major destination in North Texas.
The Fields Development Hub
The Preserve is situated within Fields, a massive mixed-use development that is also home to the PGA of America Headquarters, the Omni PGA Frisco Resort & Spa, and the highly anticipated Universal Kids Resort, which is currently under construction.
The Preserve will ultimately feature 233 homes on lots ranging from 6,800 square feet to over an acre. Residents will have access to amenities including PGA golf courses and 25 miles of trails, highlighting the continued appeal of high-end, amenity-rich suburban living.
Investment Activity Remains Strong
The robust development pipeline is matched by strong investor interest in existing properties. In Uptown Dallas, The Brady, a high-rise apartment complex with nearly 300 units, was recently acquired by Karlin Real Estate. The transaction marks the firm's first purchase in Dallas, expanding its Texas portfolio to more than 1,400 units.
Meanwhile, to support its operations in the affluent Park Cities area, brokerage firm Briggs Freeman Sotheby’s has opened a new office in University Park's Snider Plaza. Founded in the area in 1960, the move reinforces the firm's commitment to serving one of the region's most active real estate markets.
Together, these projects illustrate a dynamic and expanding real estate landscape across North Texas, driven by population growth, corporate relocations, and a sustained demand for diverse housing options.
