A large Dallas-based builder, Megatel Group, has developed a new line of homes built for community living that will be set in a series of three Golden Gate Communities, including one with 700 new homes in the Dallas suburb of Weston.
“This development project in Weston marks the launch of our prefabricated home park product line,” Megatel co-founder Zach Ipour said. “Within the next five years, we plan to build and develop 10,000 prefabricated homes across the nation through this platform.”
Megatel’s other Texas communities are in Prosper and Celina.
The Dallas Business Journal reports area home prices had increased a record 23.7% in the previous 12 months, among the largest surges in the nation.
Megatel constructs apartments, townhomes, and houses throughout North Texas. It also develops lagoon communities, including one under construction in Forney. It has more than a dozen additional lagoon communities planned for six regional states. Founded in 2006 by brothers Aaron and Zach Ipour, Megatel Homes has become a prominent homebuilder in the Dallas Fort-Worth metroplex.
The company posted record-breaking sales results in May 2021, with more than 300 home sales and over $120 million in gross contract sales in that month alone.
“Recently, our focus has been on targeting the more affordable end of the housing market with higher density products,” Ipour said. “Additionally, we are hyper-focused on providing homebuyers with more value through the development of our new lagoon communities that offer world-class amenities, ultimately revolutionizing the typical residential subdivision.”
New Affordable Housing in Texas
Homes in the new, affordable Golden Gate Communities will range in size from 550 square feet to 2,400 square feet. Golden Gate Communities will feature a unique amenity center with a café, fitness areas, and resort-style swimming pool, pickleball, bocce ball, volleyball, and a playground.
Five acres at each community will be dedicated to amenities such as a farmers’ market, which will provide residents access to local produce and will ultimately support small business owners and agricultural workers.
“We are pleased to develop our first of many prefabricated home parks and to provide a modern, yet affordable housing option for individuals with low to moderate income levels,” Ipour said.
He said the use of prefabricated homes will help reduce the negative and costly impact of supply chain shortages and material scarcity.
“As material costs and labor shortages continue to negatively impact the industry, fabricated home parks will offer quality affordable housing options,” Ipour said. “Through our Golden Gate Communities, we will change the perception of ‘trailer parks’ and provide innovative and modernized communities that are attainable for people with all price points, budgets, and lifestyles.
“Nationwide, there are approximately 250,000 construction jobs sitting vacant and prices, as well as lead times of building materials, have skyrocketed,” he said. “Our new prefabricated home park platform is an innovative approach to provide affordable housing options and to ultimately expand our customer base.”
Rent-Back Program Boosts Homeownership
In March of 2019, Megatel launched its Rent-Back program in an effort to create a bridge between renters and homeownership. In partnership with select apartment communities, the Megatel Rent-Back program rebates up to a year of rent payments at lease-end to renters who choose to purchase a home.
“Our rent-back program has directly contributed to our success as renters search for more incentives that can help them achieve homeownership in today’s surging market,” Ipour said. “This is a concept that no other home builder offers, and one that will serve as a solution to one of the biggest hurdles that would-be homeowners face. We have been investing in this program for two years and are now able to see the extraordinary results of this pioneering concept.”