Midas Investments and GC Land Partners have taken ownership of a 102-acre tract east of Pilot Point in northern Denton County, where they plan to build a mixed-use project. Midas acquired 53.8 acres, while GC Land Partners purchased the remaining 49 acres.
The Pilot Point City Council approved zoning for the property and a $15 million incentive package in May. The project, called Pilot Point Town Center, is planned with commercial and residential components, restaurants, fast-food businesses and large retail stores where firearm sales would be allowed.
The zoning recommendations limit structures to four stories and permit as many as 28 housing units per acre. A trail network is also planned to link the development’s commercial and residential areas, according to information cited in the report.
The site is about one mile north of Lantern, a Hillwood development planned to include 2,000 homes and backed by a reported $1.2 billion investment. Other nearby projects include Centurion American’s Bryson Ranch, planned for 3,000 homes, and Green Brick Partners’ 586-acre Waterside development.
Pilot Point is approximately 52 miles from the interior of the Dallas-Fort Worth area and about 45 miles by car from Thackerville, the closest Oklahoma city identified in the report. FM 1385 and nearby U.S. Highway 380 provide access to the area, according to the report.
