More than 14,000 people have made a home in the Castle Hills development in Lewisville in the 20 years since the project was started.Â Now the 2,600-acre community is entering a new phase of development with the start of construction on thousands of apartments, more retail space and an office park.Â âWe are probably about 60 percent built out,â said Chris Bright, CEO of Castle Hills developer Bright Realty. âI figure we have another 10 to 15 yearsâ work left.Â âNow we are about 60 percent residential,â Bright said.Â With about 3,300 occupied homes, Castle Hills has been one of the most successful suburban residential developments in the Dallas area.Â Single-family homes in the project, which includes a country club, central shopping village and neighborhood parks, start at more than $300,000 and go above $1.5 million.Â âItâs been one of the most active communities in the Metroplex,â said David Brown of housing analyst Metrostudy Inc. âIt was in the top 10 in the second half of last year.
âThe first 15 years at Castle Hills has been about building the residential component,â Bright said. âWe had to do that first.âÂ Construction has started on a 150-acre office and business park at State Highway 121 and Carrollton Parkway.Â The Crown Centre Office Park is planned for as much as 3 million square feet of construction. The first office building will have more than 200,000 square feet.Â Bright said the location between Interstate 35E and the Dallas North Tollway should be attractive to businesses.Â âWeâre 11 miles from the north entrance of D/FW Airport on the freeway,â he said. âAnd we have the single-family housing for the decision makers to live.â
Soon Castle Hills will have high-density rental communities that appeal to young professional workers.Â Bright Realty is breaking ground on a 20-acre, 423-unit urban-style apartment project that will be on Castle Hills Drive south of State Highway 121.Â The $75 million development is across the street from where Bright plans to build several hundred thousand square feet of shopping and entertainment venues.Â âWeâve been talking to theater operators,â Bright said. âThere is going to be some office, but the anchor of our project is multiple restaurants.âÂ
Adding commercial businesses and Uptown-style apartments at Castle Hills will complete the vision for the plan that dates back to the 1980s.Â âIâve been working on this project for a long time,â Bright said. âMy dad bought the first piece of this land in 1952 â the year I was born â for $83,000.Â âHe had acquired it all by 1966.âÂ Businessman H.R. âBumâ Bright bought up the farmland northwest of Dallas after studying suburban locations for future development potential. âHe wanted to buy as close to downtown Dallas as he could at the lowest price,â Bright said. âHaving this land free and clear without debt enabled us to address it carefully over time.Â âYou have to have the discipline to wait for what makes sense for your development.â