Monday May 23, 2016
Gehan Homes, Ltd. has purchased the last 58 completed residential lots in the “Arbors at Willow Bay”, developed by Hillwood Communities and located in the highly sought after submarket of East Frisco. Willow Bay will join 21 other new home communities offered by Gehan Homes in the North Texas market.
Gehan Homes, headquartered in Dallas, Texas, is a BUILDER 100 Top 30 Homebuilder with new home communities in Dallas, Houston, Austin, San Antonio and Phoenix, Arizona.
“We are looking forward to building in a master planned community of this quality that is located within walking distance of three new Frisco ISD schools” said John Winniford, CEO of Gehan Homes. Gehan Homes transitioned to a wholly-owned subsidiary of Sumitomo Forestry of America, Inc. at the end of April. “Executing on a transaction of this size in the midst of an ownership and leadership change shows how committed our new owner is to maximizing the growth potential of this company” Winniford added. The company has plans to expand its new home construction in Dallas, as well as in its other markets.
The Arbors is the last phase of the 1600 home Willow Bay master plan community in Frisco ISD. Amenities in the community include a swimming pool, hiking and biking trails and a park (“Yucca Ridge Park”) which includes open space, ball fields, a playscape for kids, and a basketball court.