HFF Secures Development Financing for Tomlin Investments’ Massive Community Green Meadows
- May 11, 2016
Celina, Texas—HFF recently secured financing on behalf of the borrower Tomlin Investments for the initial development of a 15-phase, 1,408-acre master planned community in the North Dallas suburb of Celina, Texas.
HFF placed the construction loan for Green Meadows with Bank of the Ozarks. Proceeds were used to pay off existing debt and fund construction costs associated with the project, including bringing in roadways and utilities and creating both an amenity center and the 365-lot Phase I of the development.
Once complete, the new development will feature nearly 4,500 single-family residential homes and community amenities such as multiple swimming pools, gardens, dog park, playgrounds, walking trails, sand volleyball courts, grilling area with fire pit, party center and daycare center.
The master planned community is located one mile west of the Dallas North Tollway along Legacy Drive, approximately 10 miles north of Frisco’s “$5 Billion Mile” and the rapidly growing Legacy Business Park. Tomlin Investments plans to build a new roadway, Green Meadows Parkway, which will intersect the toll road and further increase the community’s accessibility.
Director Jeremy Sain and Managing Director Steven Heldenfels led the HFF team representing the developer.
“We are excited about putting the funding in place to develop the infrastructure for the entire project and bring the first phase of lots to market for a select group of builders,” said Dan Tomlin of Tomlin Investments in prepared remarks.