Tellus Group Project Nabs First Continental’s Largest Loan Ever
BISNOW – January 23, 2025 – A Plano-based investment firm is doing its part to solve North Texas’ housing shortage.
Less than two weeks after announcing plans to build a 3,000-home master-planned community in Anna, Tellus Group is at it again with Meraki, a 2,700-home community coming to Forney.
Houston-based lender First Continental closed on a $45M loan to fund the project, which will be on nearly 1,100 acres just north of Highway 80 on the east side of the Metroplex.
In addition to the huge residential component, the multiphase project will feature an elementary school, several amenity centers and more than 300 acres of open space with large lakes that can accommodate water recreation. The first phase of Meraki’s development is expected to be finished later this year, delivering 406 homes, The Real Deal reported. The full project is slated to be done by 2035.
