Megatel Homes LLC, one of the largest homebuilders in the state of Texas, today announced that the company has started the final phase of development for a community in the Dallas suburb of Wylie, Texas. Scheduled for completion in June 2021, the approximately $75 million final phase will feature roughly 215 single-family homes. The homes will range in size from 2,100 square feet to 4,500 square feet and will be priced between $290,000 to $400,000.

"The development of the Woodbridge community has been tremendously successful, and we could not be more excited to close on the 22nd and final phase of this development," said Zach Ipour, co-founder. "More than 90% of the homes that are currently under construction in the community are pre-sold, proving the strong demand for quality single-family housing options in suburban markets, such as Wylie."

Once completed, the Woodbridge community will feature 3,555 lots and top-of-the-market amenities including a community pool, golf course and trails and parks.

Ipour explains that throughout the market slowdown due to the coronavirus pandemic, Megatel Homes has focused on diversifying its product and service mix across numerous suburban Texas markets while also bridging the gap between multifamily and single-family ownership. "Our solid deal pipeline coupled with the success of our recently launched rent-back program, has allowed us to achieve success in both the multifamily renting and the residential homebuying arenas. The rent-back program, which rebates up to one year of rent payments at lease end to renters who choose to purchase a home, has been immensely successful."

The Woodbridge development is located in the Wylie suburb of Dallas. Located in Collin County, Wylie was recently ranked the 13th best suburb to buy a house in the Dallas-Fort Worth area by Niche.com. The region boasts a highly rated school district and a sparse suburban feel with access to outdoor recreation activities.