A 48-home luxury subdivision is taking shape on a 14-acre stretch of northeast Plano, just steps from the city's largest park, after developers secured $29.65 million in construction financing to get the first homes out of the ground. The project, known as The Urban Preserve at Oak Point, sits at 2601 East Parker Road and is being built by Modern-E Homes under Thanh Vuong Investments, LLC.
Meridian Capital Group arranged the $29.65 million in construction financing for the first phase of the community, according to the New York Real Estate Journal. Brian Flax and David Sirchenko of Meridian Capital Group arranged the deal, and commercial real estate database Traded reported that Charles Saad of CS Capital Group represented the buyer in negotiating the transaction. The financing came from Arixa Capital, which provided the loan as non-recourse debt carrying an 80% loan-to-cost ratio, structured around the project's construction timeline.
Loan proceeds will fund both horizontal site development and vertical construction of the first 30 homes, which comprise phase one of the 48-home build-out, per the same report. The development team began phase one on schedule, and the project is expected to deliver all 48 single-family homes at full build-out.
A 14-Acre Site Backing Up to Plano's Largest Park
The development sits on a 14.076-acre parcel — 613,151 square feet — zoned for residential use, with an annual property tax assessment of $26,629, according to the Realtor.com listing and county assessment data. The site is situated near Oak Point Park and Nature Preserve, Plano's largest park, with 800 acres of trails, open space, and natural terrain in the northeast part of the city, per Modern-E Homes. That proximity is a central part of the pitch for a project marketed under the Urban Preserve name.
Families moving into the new homes will fall within the Plano Independent School District, zoned for Hickey Elementary, Bowman Middle School, and Williams High School, according to the Realtor.com listing. The surrounding submarket has steady demand for new single-family housing, the New York Real Estate Journal reported, and Plano itself remains one of the largest employment centers in the Dallas-Fort Worth metroplex.
East Plano's Price Gap With the West Side
The Urban Preserve's arrival highlights a stark divide in Plano's housing market. East Plano zip codes have averaged between $446,250 and $589,000, compared to West Plano medians exceeding $750,000, according to market reporting from Grey Square. Citywide, Plano's median single-family home value sat at $499,723 as of July, with homes spending roughly 21 days on the market before going under contract, per Zillow data.
A 48-home luxury community landing in East Plano, rather than the pricier west side, signals builder confidence that demand for higher-end single-family product is spreading into a submarket historically defined by older housing stock and lower price points. Modern-E Homes has branded the homes in a Scandinavian-modern style, betting that buyers will pay a premium for new construction next to Oak Point Park's trails and open space.
Private Lending Fills a Gap for Ground-Up Construction
Arixa Capital understood both the horizontal and vertical sides of ground-up single-family development, according to the New York Real Estate Journal's report on the deal. The lender announced in June that it had surpassed $8 billion in total loan originations since its 2006 founding, having funded more than 15,000 housing units across the country, per a PR Newswire announcement. In a December 2025 growth update, the same firm reported its Texas loan originations had surpassed $150 million, reflecting an expanding push into Sunbelt residential construction markets.
That expansion comes as regional bank financing for ground-up single-family projects remains tight, pushing developers toward private lenders capable of structuring non-recourse debt around a build schedule. Meridian Capital Group, the broker that arranged the Plano loan, was founded in 1991 and is headquartered in New York. It ranks among the nation's largest commercial real estate advisory firms, having arranged more than $300 billion in financing since its founding, according to the New York Real Estate Journal.
The Urban Preserve at Oak Point joins a wave of development activity along Plano's broader Parker Road corridor. Hoodline previously reported on a new medical office building rising in West Plano along the same corridor, part of a citywide pattern of commercial and residential growth stretching from the city's medical clusters to its aging infrastructure, which Plano has been addressing with pipe replacement work near Old Shepard Place. Modern-E Homes, the builder behind the Oak Point project, has also been expanding its single-family footprint elsewhere in Texas, including a 1,000-home project Hoodline covered near Buda earlier this year.
