Midas Investments and GC Land Partners have acquired a combined 102 acres east of Pilot Point in northern Denton County for the planned Pilot Point Town Center. Midas bought 53.8 acres, and GC Land Partners purchased 49 acres. Aubrey is about 12 miles west of Celina.
The Pilot Point City Council approved zoning and a $15 million incentive package for the property in May. Plans call for commercial and residential space, restaurants, fast-food locations and large retail stores that could sell firearms. Buildings would be limited to four stories, while the zoning allows up to 28 housing units per acre.
A trail system is also planned to connect the project’s commercial and residential sections.
The property is roughly one mile north of Lantern, a Hillwood project planned with 2,000 homes and a reported $1.2 billion investment. Nearby developments also include Centurion American’s Bryson Ranch, which is planned for 3,000 homes, and Green Brick Partners’ 586-acre Waterside. FM 1385 and nearby U.S. 380 connect the area.
Pilot Point is about 52 miles from the interior of Dallas-Fort Worth and roughly 45 miles by car from Thackerville, identified in the report as the closest Oklahoma city. The Real Deal reported the acquisitions and project details.