First Continental closed a $45 million loan — the largest in its history — with Tellus Group for a master-planned community, called Meraki, in Forney.
Situated on a 1,079-acre tract of land six miles north of Highway 80, Meraki will include over 2,700 homes, an on-site elementary school, amenity centers and neighborhood parks and green spaces, as well as lakes suited for water recreation.
“We’re excited to partner with Tellus Group on this transformative master-planned community,” Jeff Corbett, executive vice president of First Continental, said in a press release. “Tellus’ expertise in developing sustainable, vibrant neighborhoods aligns with our mission to support projects that drive long-term community growth.”
“We pride ourselves on developing high-quality residential communities using thoughtful land planning that will ‘wow’ families and create close-knit neighborhoods with a true sense of community,” said Tellus Group CEO Craig Martin. “By partnering with First Continental we were able to secure the necessary funding for the project and have the opportunity to bring a new, innovative housing development to one of the nation’s fastest-growing cities.”
The first phase of development is slated for delivery this year, with full buildout planned for 2035.