Client:
- Centurion American Development Group
Location
- Hickory Creek, Texas
About the Community
Hickory Farms is a 24.277-acre single-family residential development located in the lakeside town of Hickory Creek, Texas. Though smaller in scale, this community represents a highly efficient and fast-tracked development model. Designed for families seeking access to suburban amenities with proximity to the Lake Lewisville area, Hickory Farms delivers quality living.
The community features 130 single-family lots, including 116 50-foot lots and 14 60-foot lots, integrating well with the surrounding neighborhoods and infrastructure. With its location within the Lake Dallas Independent School District, Hickory Farms offers residents access to local schools while maintaining close knit community appeal and convenience.
Innovative Public Finance
Hickory Farms was successfully financed through a Public Improvement District (PID) structure that enabled early delivery of critical infrastructure. In 2019, the Town of Hickory Creek issued $4.1 million in bonds that net over $3 million in proceeds to fund public improvements supporting the development.
This project stands out not only for its efficient land use but also for the speed and precision with which it was executed—showcasing what’s possible with streamlined public-private coordination and disciplined project management.
The PID creation petition was submitted on April 4, 2019, and bonds were closed and funded by July 10, 2019—a turnaround of just three months. Typically, this process can take anywhere from six to twelve months, however, our team achieved this in record time.
The total cost of public improvements amounted to $3.5 million with an additional five-hundred thousand in private improvements completed without reimbursement. This strategic approach ensured the community could move quickly from planning to execution, preserving capital and aligning infrastructure delivery with build-out needs.
Small but Mighty: A Model of Efficiency
Though Hickory Farms is the smallest PID our team has completed to date; it exemplifies how even compact projects can benefit from sophisticated public financing solutions. The streamlined PID process, combined with intentional land planning and a clear development vision, created a high-impact residential neighborhood on an accelerated timeline.
A Special Thanks
Working with Mayor Lynn Clark, City Manager John Smith and their excellent council and staff on this project was a pleasure. Their commitment to collaboration has made Hickory Creek a welcoming place for business and has guided development that meets the needs of today’s citizens while planning for tomorrow.