Prosper development with plans for Crystal Lagoons sells to international investor, local partners
One of North Texas’ most successful residential community developments has a new owner.
An international investment firm has teamed up with two local developers to buy the 2,030-acre Windsong Ranch in Prosper. The $1.2 billion home community on U.S. Highway 380 has been under construction since 2013 and will eventually have more than 3,000 homes.
Windsong Ranch has been one of the best selling new home projects in the Dallas-Fort Worth area, attracting hundreds of residents from relocating workers for companies including Toyota, Liberty Mutual Insurance and others.
Windsong Ranch has teamed up with multinational water-innovation company Crystal Lagoons® to build a 5-acre clear water lagoon as a water recreation feature, which will open for its residents next year.
“We’re excited to partner with two local experts with deep experience in the market as we expand our real estate portfolio to include a best-in-class master planned community in Texas,” Brendan Bosman, a managing director at Värde Partners responsible for real estate investing in the U.S., said in a statement.
Crystal Lagoons® patented environmentally friendly technology that enables real estate developers to transform parcels of land into idyllic beach lifestyles anywhere in the world at low construction and maintenance costs. The lagoons use 100 times fewer chemicals than traditional swimming pools and consume only 2% of the energy required by traditional pool filtration systems. The result is a dramatic, clean, clear body of fresh water that offers tremendous recreational appeal for the whole family, particularly when compared to more traditional amenities such as golf courses.
Windsong Ranch’s 5-acre crystal lagoon is scheduled to open in 2019.
Crystal Lagoons is an international innovation company, founded by scientist Fernando Fischmann, which has developed a patent-protected technology that allows the construction and maintenance of unlimited-size crystalline water lagoons at very low costs.