INVESTMENT SUMMARY
Eldorado Parkway was a 2.5 acre undeveloped tract of raw land in a bustling area of Frisco, Texas. Working with the city, eight lots in total were rezoned to compliment an existing neighborhood, the Estates at Willow Bay, with a quality residential development. Upon subsequent implementation of the infrastructure, the lots were annexed into the Estates at Willow Bay HOA and sold to a local builder.
INVESTMENT SUMMARY
Eldorado Parkway was a 2.5 acre undeveloped tract of raw land in a bustling area of Frisco, Texas. Working with the city, eight lots in total were rezoned to compliment an existing neighborhood, the Estates at Willow Bay, with a quality residential development. Upon subsequent implementation of the infrastructure, the lots were annexed into the Estates at Willow Bay HOA and sold to a local builder.
PURCHASE RATIONALE
Frisco is part of the Dallas-Fort Worth metroplex and is approximately 25 miles from both Dallas Love Field and Dallas/ Fort Worth International Airport. It was the fastest-growing city in the United States in 2009, and its population grew from 116,989 in 2010 to 174,400 as of April 1, 2018. The primary risk was obtaining the necessary rezoning classification, which was mitigated due to our relationships within the city.
EXIT STRATEGY
Project completed and sold.
