Prices in this Johnson County starter-home development will start under $300,000
The people behind Silo Mills, a housing development coming to Johnson County, want to create opportunities for young families and first-time homebuyers to enter the crowded housing market.
Prophet Equity and developer Terra Manna have planned an 840-acre neighborhood with 2,500 home sites on FM 917.
Homes will start in the upper $200,000s, below the state’s median price of $305,400 and Fort Worth’s of $312,600. Annual home prices increased 20.1% in Fort Worth in August, according to the Texas Real Estate Center at Texas AM.
“We do not have the housing necessary for all of the families moving here,” said Ross Gatlin, managing partner at Prophet Equity. “And much of the housing stock is at a price point that an entry-level purchaser cannot afford.”
The first phase of development includes 262 lots. Antares Homes and Bloomfield Homes are the designated builders.
The development’s proximity to the Chisholm Trail Parkway “provides a really easy commute,” said Bret Pedigo, co-owner of Terra Manna.
The development is in the Godley school district; the district’s third elementary school will be built within Silo Mills and is expected to open in fall 2022.
“Kids can ride their bikes to school if they wanted to,” Gatlin said.
The people behind Silo Mills are building a wastewater treatment center and have established municipal management districts to ensure there’s infrastructure to support the new neighborhood.
“Our ultimate goal on this development is kind of a three-legged stool: being the best master-planned offering in that sub-market in the best school district in that sub-market at the best price,” Pedigo said.
Model homes are expected to be completed in fourth quarter 2022.
This story was originally published November 2, 2021 at 12:29 PM.
