Megatel Homes, a Texas-based homebuilder that funds part of its operations through private placements offered by its capital markets division Megatel Capital Investment (MCI), has launched its prefabricated home park product line, with the development of a nearly 700-home park near the Dallas suburb of Weston, Texas.
“We are pleased…to provide a modern, yet affordable housing option for individuals with low to moderate income levels,” said Zach Ipour, co-founder. “This development project in Weston marks the launch of our prefabricated home park product line, Golden Gate Communities. Within the next five years, we plan to build and develop 10,000 prefabricated homes across the nation through this platform.”
Amenities at Golden Gate Communities will include a café, fitness center, and swimming pool, as well as outdoor activities, such as pickle ball, 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, the company said.
Megatel noted that these amenities are exclusive to Golden Gate residents and not available to the public unlike the company’s recent lagoon developments.
Ipour explains that prefabricated home communities are the future of affordable housing as median home prices continue to rise.
“As material costs and labor shortages continue to negatively impact the industry, fabricated home parks will offer quality affordable housing options for individuals that cannot pursue the American dream of owning a home. Through our Golden Gate Communities, we will change the perception of trailer parks and provide innovative and modernized communities that are attainable for people of all price points, budgets and lifestyles.”
Once completed, Megatel’s prefabricated home park in Weston will include approximately 700 homes ranging in size from 550 square feet to 2,400 square feet.
Currently, Megatel Homes has two other prefabricated home development projects underway near the Dallas suburbs of Prosper and Celina. The firm said that it is planning to expand the Golden Gate operation “extensively” throughout Texas.
Ipour added that a shortage of residential construction labor and materials is contributing to the low inventory of available homes across the nation.
“Nationwide, there are approximately 250,000 construction jobs sitting vacant and prices as well as lead times of building materials have skyrocketed, with prices of some materials increasing by more than 15 percent.”
Megatel Homes has completed more than 100 developments comprised of several thousand homes since its founding in 2006. The company currently has more than 100 communities and is spreading throughout the Dallas-Fort Worth metroplex.