In the dynamic landscape of North Texas real estate, few names resonate with as much influence and strategic foresight as Larry Corson. With a distinguished career spanning over three decades, Corson has cemented his reputation as a pivotal figure in residential property investment and development. His deep understanding of market nuances and unwavering commitment to crafting thriving communities have driven significant growth across the Dallas-Fort Worth (DFW) metropolitan area. Recently elevated to co-president of Wilbow Corporation, a privately held, Dallas-based residential property developer, Corson continues to shape the future of urban and suburban living in one of the nation’s most vibrant regions.
Corson’s leadership at Wilbow Corporation has been instrumental in guiding the strategic acquisition and development of prime properties throughout the DFW metroplex. His keen eye for promising locations has led to successful ventures in highly sought-after suburbs, including Southlake, Colleyville, Flower Mound, Roanoke, Keller, McKinney, and Prosper. A testament to his expertise is his prior role as a director at Cooper & Stebbins, where he masterminded the development of the Garden District – an exclusive luxury enclave nestled within the prestigious Southlake Town Square area. This project exemplifies his ability to identify and cultivate high-value residential communities that cater to discerning homebuyers.
To gain deeper insights into the North Texas real estate market, its evolving housing landscape, and the ambitious projects on Wilbow Corporation’s agenda for 2015 and beyond, we recently had the opportunity to sit down with Larry Corson. His perspective offers a valuable look into the strategies driving residential development in a region defined by exponential growth and unparalleled opportunity.
Candy’s Dirt: Much of your extensive development work has been concentrated in DFW suburbs. What specific opportunities within these areas consistently attract your strategic focus and investment?
Larry Corson: Our fundamental approach is to always think like a homebuyer. This perspective guides us towards suburban markets that offer an optimal blend of highly-rated schools, convenient access to robust job centers, and a rich array of nearby retail options – in some cases, even walkable retail districts. Beyond these essential amenities, we prioritize the development of safe and inviting neighborhoods. Our strategy is also heavily data-driven; we meticulously analyze home sales trends, pricing dynamics, and the performance of various homebuilders to identify market leaders. Our ambition is always to anticipate market movements and position ourselves ahead of the curve in these premier suburban communities, ensuring we deliver exactly what modern homebuyers are seeking.
Candy’s Dirt: Looking ahead at your 2015 development roster, which projects stand out as the most significant for Wilbow Corporation, and what makes them particularly impactful?
Larry Corson: This year promises an exciting blend of both urban and suburban developments poised to enter the market. A notable urban project slated for later this year is our Kessler Park development for David Weekley Homes. This will introduce detached lifestyle homes situated on micro-lots, offering a unique product in a vibrant Dallas neighborhood. We anticipate pricing for these homes to range from the mid-$300s up to $500,000, catering to a diverse segment of the market looking for urban convenience without sacrificing the benefits of a detached home.
In the suburban sphere, we are thrilled to be opening a brand-new neighborhood in Flower Mound this summer, aptly named Hunters Glen. This community will feature exquisite homes crafted by esteemed builders like Darling Homes and American Legend Homes, known for their quality and design. Concurrently, in Keller, we are on track to complete the final phase of Silverleaf next month, which will showcase homes built by Our Country Homes. Furthermore, this summer will see the grand opening of the newest phase at Fairway Ranch in Roanoke, where we are collaborating with prominent builders such as Highland Homes, Darling Homes, and David Weekley Homes. Each of these projects is significant because they address specific market demands, from innovative urban living to spacious suburban communities, reinforcing our commitment to diverse and high-quality residential offerings across DFW.
Candy’s Dirt: Could you share your current perspective on the overall housing market in North Texas? What are the prevailing sentiments and trends you observe?
Larry Corson: Our outlook on the North Texas housing market is unequivocally bullish. The region is experiencing dramatic job and population growth, consistently leading the nation in these key economic indicators. Against this backdrop of robust demand, we are observing a significant undersupply of both new construction and resale homes. This imbalance creates a compelling environment for developers and investors alike. Quite simply, when you consider all the factors – economic vitality, population influx, and a pro-business state environment – there is arguably no better place in the United States to be involved in real estate than Texas, and specifically, the DFW metroplex.
Candy’s Dirt: Within this flourishing North Texas market, where do you see the most significant opportunities for growth, and what are the primary risks that developers and homebuyers should be mindful of today?
Larry Corson: The most apparent opportunities continue to lie along established and emerging growth corridors. Routes such as Highway 114, stretching from Las Colinas towards the Texas Motor Speedway, present substantial potential. Similarly, the expanse between the Dallas North Tollway and US-75, from Oak Lawn all the way up to Celina, remains a hotbed for development due driven by continuous corporate relocations and population migration. However, we are also keenly observing a fascinating trend: the rediscovery of “closer-in” markets. Areas like Richardson, Garland, and even core Dallas neighborhoods are experiencing a resurgence of interest as people seek shorter commutes and access to urban amenities. These established areas offer unique redevelopment and infill opportunities that cater to evolving lifestyle preferences.
Regarding risks, the primary concern is always the potential for the market to become overheated, leading to pricing that outpaces affordability. While DFW benefits from strong economic fundamentals, it’s crucial to maintain a healthy equilibrium between demand and supply to prevent unsustainable price hikes. However, as of today, we believe the DFW housing market remains in a state of healthy equilibrium, with strong underlying demand supporting current valuations without significant speculative bubbles.
Candy’s Dirt: Given the vast opportunities across the country, what has motivated your continued dedication to the DFW market specifically?
Larry Corson: Our commitment to DFW stems from a very simple and powerful conviction: it consistently stands out as the best housing market in the entire country. This isn’t just a subjective opinion; it’s backed by demonstrable facts. We benefit from exceptional job growth figures, fueled by a deeply pro-growth state philosophy that actively attracts businesses and talent. What’s more, DFW possesses a unique geographical advantage, offering the ability to expand and grow in virtually all directions. This combination of economic dynamism, supportive state policies, and abundant land resources makes DFW an unparalleled environment for residential development, ensuring long-term sustainability and demand for new housing.
Candy’s Dirt: Your focus is predominantly on residential development, as opposed to commercial or industrial projects. What is the rationale behind this specialized approach for Wilbow Corporation?
Larry Corson: Our strategic focus on residential development has deep roots within our company’s history. Our parent company, founded in Australia almost 40 years ago, has historically engaged in both commercial and residential development there. However, about 27 years ago, our Chairman identified a significant and growing opportunity in DFW to specifically provide developed land and lots to homebuilders. That need, driven by the region’s relentless growth, is even more acute today than it was then.
Beyond the market opportunity, there’s a genuine passion within Wilbow for building great neighborhoods. We derive immense satisfaction from seeing these communities come to life and flourish. It’s common for us to revisit our past projects, observing how our neighborhoods and the families within them grow and adapt as the broader DFW landscape evolves. This long-term engagement and commitment to creating lasting communities are central to our residential development philosophy.
Candy’s Dirt: Could you elaborate on your active involvement with the Urban Land Institute (ULI) and the Community Development Council (CDC) in North Texas? Why have these particular organizations become so important to your professional and civic engagements?
Larry Corson: My involvement with both the Urban Land Institute (ULI) and the Community Development Council (CDC) stems from a profound belief in their missions and their critical role in shaping responsible and sustainable development practices. ULI, as the largest organization globally dedicated to land use and development, is at its core an educational institution. It focuses on equipping its members and the broader real estate development industry with smart growth principles – strategies that promote intelligent land use, environmental stewardship, and economic vitality.
ULI serves as an essential sounding board for our industry, fostering a collaborative environment where best practices are shared, innovative solutions are discussed, and the long-term impact of development on communities is thoroughly considered. I’ve been actively involved with ULI for over two decades, currently serving as an Assistant Chair of the North Texas Community Development Council, which allows me to directly contribute to these important discussions and initiatives within our local context.
The Community Development Council (CDC), specifically, hones in on local DFW issues. It addresses critical regional challenges such as advocating for smart growth policies, enhancing regional transportation infrastructure, and tackling other issues vital for the sustainable development and long-term prosperity of the Dallas-Fort Worth metroplex. Both organizations are invaluable platforms for ensuring that growth in North Texas is not just rapid, but also thoughtful, inclusive, and beneficial for all its residents.