Christopher Todd Communities, Taylor Morrison End Partnership To Bring 6 BTR Communities To North Texas
The three-year contract between the firms ended and was not renewed following lengthy negotiations, Martha Moyer Wagoner, who handles media relations for Christopher Todd Communities, told Bisnow. A reason for the termination was not disclosed.
“We are both moving forward independently with plans that support each of our business objectives,” Wagoner said. “Christopher Todd Communities loves Texas, and we look forward to bringing our product back there.”
Taylor Morrison announced in March it was venturing into the BTR space alongside Phoenix-based Christopher Todd, a well established industry leader. Six land sites in Grand Prairie, Celina, Denton, Melissa, Lavon and Saginaw were purchased with plans for co-branded BTR projects that would have delivered 1,300 residences over the next few years.
The two companies were also working together on communities in Arizona, North Carolina and Florida, according to the Dallas Morning News.
The Melissa project will move forward as a Taylor Morrison community, the company's Director of Director of Land Entitlements and Development Jack Rowe said. It would have been Christopher Todd's first BTR project in Texas.
The developer plans to break ground on the $55M, 810K SF project near the intersection of U.S. 75 and Melissa Road this month.
It is unclear whether the remaining sites will be developed by Taylor Morrison alone, but Christopher Todd will not be involved in any of the communities, Wagoner said.
UPDATE, NOV. 4, 4:01 P.M. CT: The story has been updated to include information that Taylor Morrison told Bisnow about the future of the Melissa project.