Taas Investments Lands Construction Loan in Hot Dallas Suburb

One of North Texas’ fastest-growing suburbs is set to get a townhome development.

Taas Investments has secured $29.5 million in construction financing to develop 118 townhomes on 17 acres at Milrany Lane in Melissa, the Dallas Business Journal reported. The loan comes to $250,000 per unit.

Arizona-based Tower Capital arranged the three-year mortgage, which includes a potential six-month extension.

The development is set to include units from 1,650 to 1,700 square feet with three bedrooms, two and a half bathrooms and two-car garages. Amenities will include a pool, pickleball courts, a fitness center and a clubhouse. Homes will be available for either rental or purchase.

Since 2013, Plano-based Taas has delivered numerous developments across North Texas, including projects in Wylie, Princeton and McKinney.

The firm’s project in Melisssa has been underway since early last year, when infrastructure work began. Construction on the townhomes is set to start next month, with completion projected for the third quarter of 2027. Pricing will be based on market conditions upon delivery.

Melissa’s appeal as a residential hub stems from its relative affordability compared to nearby cities. The average home price in Melissa is $463,550 — significantly lower than McKinney and Frisco, where average prices are $72,000 and $208,000 higher, respectively, according to Zillow.

“People who are being priced out of the area are heading north because they can get more bang for the buck,” said Tauheed Siddiqui, founder and CEO of Taas Investments.

Melissa’s growth is further supported by its highly rated school district, which ranks 15th in the Dallas-Fort Worth metro area.

The North Texas suburb is home to about 24,000 residents. A 200,000-square-foot Walmart and a 131,000-square-foot H-E-B are in development in the town and are expected to open this summer.

— Andrew Terrell