Landon Development acquires 500 acres in Texas

Landon Development Company is planning to develop 506 acres of newly acquired property in Texas into a master-planned residential community.

John R. Landon, the company’s founder and president, announced the acquisition and planned community, which will have about 1600 home sites in Frisco, Texas.

The community is expected to contain home sites of varying sizes along with a neighborhood amenity center. Landon Homes will be one of several builders, and homes are expected to range from $300,000 to $700,000. Development will begin as early as summer 2011, with model homes open for sale by the first quarter of 2012.