Prosper land sells for future home community

The Dallas Morning News - Steve Brown

The U.S. 380 corridor through Denton and Collin counties is one of the fastest-growing new home markets in North Texas.(Vernon Bryant / Staff Photographer)

An investor that recently purchased several properties north of Dallas has snapped up another development site in Prosper.

A partnership led by Vijay Borra of DFW Land bought a 190-acre tract north of U.S. Highway 380. The undeveloped property is next to the Windsong Ranch community. The new owner is planning the Prosper Oaks site for a residential subdivision.

“The land had been held in the same family since the Rue family settled the land now located in west Prosper in the Good Hope community in the 1800s,” said real estate broker Rex Glendenning, who handled the sale. “This project’s proximity to the new PGA headquarters and its new world-class PGA golf courses should really make this development attractive.”

Glendenning and Caleb Lavey of Rex Real Estate brokered the sale, along with Leigh Roberts.

Borra has acquired several properties in Prosper and has made recent buys in Celina.

The U.S. Highway 380 corridor between McKinney and Denton has been one of the hottest new home markets in North Texas. The 2,000-acre Windsong Ranch community next to Borra’s new purchase is one of the top housing projects in the Dallas-Fort Worth area with more than 3,000 homes planned.

The just-sold property is adjacent to Windsong Ranch. (REX Real Estate)