Stonebridge Ranch is a planned community in McKinney, Collin County, Texas, United States.[1]
History
editOriginally planned as a large community of luxury homes and facilities, building began on the 6000-acre site in the mid-1980s. The development faced problems in 1988 when Gibraltar Savings Association, the savings and loan institution backing it for an estimated $300 million (and 17% owned by the family of the project's developer) became insolvent. The federal government intervened, taking over the property, selling again it in 1990 for only $61 million. Such losses were a common outcome in the government's disposal of real estate assets during the bailouts of the savings and loan crisis. Ownership transferred to Yukio Kitano, representing the largest-ever Japanese investment in Texas real estate at the time.[1][2][3][4] Construction has continued over the following decades.[4]
Amenities
editStonebridge Ranch has private leisure facilities including pools and golf courses, as well as a community center, which are all overseen by its community association.[5]
The area contains six elementary schools and two middle schools.[6] McKinney and Frisco Independent School Districts offer education to high school students. It is also the location of Methodist McKinney Hospital[6] and Stonebridge United Methodist Church.[7] Commercial activity is concentrated on the Virginia Avenue Corridor and Eldorado District, including large chains, local merchants and restaurants.[citation needed]
References
edit- ^ a b Hayes, Thomas C. (June 22, 1990). "A Savings Fiasco in Texas Ends at a Fire-Sale Price". New York Times. p. 1. Retrieved April 13, 2024.
- ^ Giddens, Sally (October 1, 1989). "BUSINESS | Slick Rick". D Magazine. Retrieved April 13, 2024.
- ^ "Japanese purchase of Texas ranch approved - UPI Archives". UPI. July 11, 1990. Retrieved April 13, 2024.
- ^ a b "Darling Homes sells last of over 2,000 homes at Stonebridge". Texas Real Estate Research Center. Retrieved April 13, 2024.
- ^ "Premier Amenities". Stonebridge Ranch. Stonebridge Ranch Community Association. Retrieved April 13, 2024.
- ^ a b "Stonebridge Ranch Living » About // Live". Retrieved April 13, 2024.
- ^ "History". Stonebridge UMC. Retrieved April 13, 2024.
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