How Terra Verde Group’s Craig Martin Spurred the Growth of West Prosper

Windsong Ranch Developer Creates Road Map for Working with Cities

PROSPER, Texas--(BUSINESS WIRE)-- When Craig Martin’s real estate investment firm, Terra Verde Group, purchased the land for the 2,000-acre Windsong Ranch in Prosper four years ago, he had a vision. Create a unique residential community that offers residents the ultimate family lifestyle. There was only one problem. Nothing else existed in west Prosper, a suburb of Dallas. For miles around, all you could see was farmland.

That has certainly changed in the years since and it’s due, in part, to Martin’s foresight to work with the Town of Prosper. Together, they created infrastructure, utilities and road improvements that paved the way for the onslaught of commercial development now happening west of the Dallas North Tollway.

“One of the first things we did was meet with Town of Prosper officials to talk about how we could help speed up the infrastructure improvements to that part of town,” said Martin. “It was on the city’s radar but the funds were not there to meet the need and that is where we stepped in with some creative funding.”

The result was a public-private partnership with the Town of Prosper, Prosper Economic Development Corporation, TVG and another developer, Greater Texas Land Resources. TVG invested $7.1 million to bring roads, water and sewer infrastructure between U.S. 380 and Fishtrap Road, positioning Prosper for the accelerated growth of non-residential development north of Highway 380. The infrastructure would serve up to 20,000 residents, or 4,700 households, and about 1,000 acres of non-residential/commercial development.

“That was a tremendous game-changer for us,” said Ray Smith, Mayor, Town of Prosper. “It positioned west Prosper for the accelerated growth of retail and commercial activity currently happening north of Highway 380 and has given us an edge over other North Texas cities in attracting commercial businesses to that part of town.”

But that was just the beginning. Martin had big ideas. A great community has schools, access to crucial basic services and parks and green space. His firm worked with the city to donate land for the first Fire and Police Station on the west side of town. Soon after, Martin met with school district officials to donate land and $4 million in construction costs for the first elementary school in West Prosper. Windsong Ranch also donated 50 acres of land for a city park in its neighborhood for a total of $6 million in land donations.

Martin’s vision is now coming together. Windsong Ranch Elementary School just opened for the 2016-2017 school year, the Police and Fire Station is opening this month and Windsong Ranch has won over 20 national, regional and local awards for its master plan, marketing and lifestyle including the People’s Choice Community of the Year.

Martin’s advice for other developers trying to trail blaze in new markets?

“Give back to the city. It’s just good business,” said Martin. “We were the first major development on this side of town and we wanted to be a great community partner for many years to come. In just three years, the commercial development has followed and that in turn brings more residents to the area and generates more tax dollars. It benefits all of us in Prosper.”

Windsong Ranch will consist of 3,100 single-family residential lots and 150 acres of mixed-use development along U.S. Highway 380 upon a projected 8- to 10-year build-out. For more information, please visit http://www.windsongranchliving.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160926005873/en/

for Terra Verde Group
Carey Marin, 214-914-1157
[email protected]

Source: Terra Verde Group

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