A 25-year-old developer is moving forward with a large residential project in Pilot Point, a city located between Dallas and the Oklahoma border. Cameron Castaldo, who founded One Mark Advisors, recently purchased 363 acres for $27 million to build Maverick Farms, a master-planned community that will include about 1,348 homes, trails, a lake-style water feature, and two amenity centers.
Castaldo began his real estate career as a teenager and launched his firm in 2023 after building capital through residential and land sales. The new development will be constructed in four phases over the next ten years. Groundbreaking took place in November, and the first 539 finished lots are expected to be delivered to homebuilders by the end of 2026. CastleRock Communities, Mattamy Homes, and David Weekley Homes have signed on for the initial phase. Marketing is underway for an additional builder for next year.
The homes will be built on lots ranging from 40 to 60 feet wide with floor plans between approximately 1,600 and 4,000 square feet. Entry-level prices are expected to start at around $280,000. This price point is below Pilot Point’s average home value of about $338,000 according to Zillow data, which may attract buyers who are priced out of other suburbs.
Total development costs are estimated at $90 million to $95 million. Castaldo estimates the full buildout value of Maverick Farms at about $548 million. Financing for acquisition and development was provided by Trez Capital. KFM Engineering & Design is acting as development consultant and engineer; Lenart Development is serving as general contractor.
In addition to housing and amenities, Maverick Farms will include a regional wastewater treatment plant intended to support future growth north of the site. This infrastructure could encourage further development in the area.
Pilot Point has a population of roughly 6,800 people and is situated near fast-growing cities such as Celina—which has been among the fastest-growing cities nationally—and Sherman to the north where significant semiconductor manufacturing investments are taking place. Other developers like Green Brick Partners and Centurion American as well as retailers such as H-E-B have also invested in nearby properties.
“CastleRock Communities, Mattamy Homes and David Weekley Homes are signed on for the first phase,” according to the Dallas Business Journal.
“Trez Capital provided acquisition and development financing,” according to the Dallas Business Journal.
“KFM Engineering & Design is serving as development consultant and engineer,” according to the Dallas Business Journal.
