Southlake-based Terra Manna, a real estate development and land management company, has bought 97 acres at the corner of Glade Road and Heritage Avenue in Colleyville for a $160 million single-family development.
The community is being called Creekside at Colleyville and will feature builders Standard Pacific Homes and MainVue Homes.
The site is the location of the old Harrington family property, whose original owners were early pioneers in Colleyville in the late 1800s. The site will be added to an adjoining piece of land for a total of 269 lots. Homes will begin in the $500,000 range.
“We have been working with the heirs for more than two years to put this site together,” Bobby Harrell, Terra Mann’s principal, said in a statement. “We anticipate a high demand for luxury homes in this area with a variety of lot sizes and high-end, active-lifestyle amenities.”
Standard Pacific Homes has some homes under construction to be ready in June. Other lots will be ready for construction later this year, the company said.
Creekside at Colleyville will feature 30 acres of parks and open space on Little Bear Creek. Trails and several new lakes will be constructed in the park area that will complement an existing lake on the north end of the project, Terra Manna said.