NEWS

First phase of Friscos Peak One homes almost sold out

Date: Aug. 10th, 2010
Contact: Caitlin Row Phone: 970-668-4633

Construction is well on its way at the Peak One affordable neighborhood in Frisco. The first home is already framed, and all but three units are under contract.

“We have four no contingency firm contracts, five soft contracts with sale contingencies, and three units are still available in the first phase,” said lead developer David O'Neil. “Originally we thought we'd start a new house each month, but now we're starting a new house every two weeks. We're ahead of schedule.”

The Peak One units will range from small cabins (around 800 square feet) to single-family homes up to about 2,000 square feet. The homes are being made available to people making between 80 percent and 160 percent of the area median income, or income ranging between $68,000-$136,000 for a family of four. Ten Mile Partners anticipates construction to build-out will take at least five years.

O'Neil said the first home will be done by early November, and he plans to build the other 11 homes on Belford Street through the winter season. It takes under 100 days to build a turn-key home, and two weeks to frame one. Contractors already have 12 house pads in place.

O'Neil also said he expects to finish the last of the 12 homes in spring, and then contractors will move onto the second phase of construction depending on the success of first phase sales. Fourteen homes are planned for the second phase, with Belford Street being connected to Second Avenue.

“We're great believers in steady-flow construction,” he said. “You slowly build it out, and people move in gradually.”

General contractor Dan McCrerey of Traditional Neighborhood Builders added that residents already in the area have been patient with construction efforts, but they're looking forward to road work completion.

O'Neil also noted that construction updates and progress reports will be posted on Facebook every Tuesday. To become a fan of Peak One Neighborhood, simply search for it at www.facebook.com.

“You'll see the 14 major steps in building a new home,” O'Neil said. “That's pretty cool in itself.”

For more information on Frisco's affordable neighborhood, visit www.peakoneneighborhood.com