Megatel Homes Approaches Close-Out of Phase II of Bloomridge Development Near Dallas

DALLAS, April 14, 2021 /PRNewswire/ -- Megatel Homes LLC, one of the largest private homebuilders in the country, today announced that the company has begun the development and pre-sales of the second phase of its Bloomridge development located in the Dallas suburb of McKinney, Texas.  The company sold out of the first phase of the development in March 2021 and has now opened sales efforts for its second phase.

"We are pleased to be actively and effectively selling the second phase of our Bloomridge community, which experienced a highly successful first phase," said Zach Ipour, co-founder. "Since mid-December 2020, the margin at the community increased by more than $120,000. We expect this remarkable success to continue into phase II of the community."

The approximately $72 million development features 159 single-family homes. The first phase of Bloomridge included the development and sales of 95 lots and the second phase includes the development and sales of the remaining 64 lots. Pre-selling of lots for phase II began in October 2020 and, as of today, about 49 out of the 64 lots have been sold.

Ranging in size from 1,800 square feet to 3,460 square feet, homes in the community are priced between $449,000 and $559,000. Bloomridge features a pool and amenity center surrounded by parks and greenbelts.

Ipour explains that the community is located less than an hour north of Dallas, providing residents with convenient access to the city. "Bloomridge serves as an attractive alternative to the hustle and bustle that comes with living in the city of Dallas, while simultaneously keeping residents near retail, dining and entertainment options."

Bloomridge is located in McKinney, Texas, which recently earned the grade of "A" in job and business growth, employment rates as well as cost of living by Niche.com. The city, which boasts a dense suburban feel, is ranked 40th out of 701 places with the best public schools in Texas.

About Megatel Homes

Founded in 2006, Megatel Homes has emerged as one of the most successful homebuilders in the state of Texas. The company has had considerable growth, with more than 100 developments comprised of several thousand homes, completed since its founding. The company currently has more than 100 communities and is rapidly spreading throughout the Dallas-Fort Worth metroplex.

SOURCE Megatel Homes