CORPUS CHRISTI, TEXAS — The Blackard Companies (“Blackard”) announce today that litigation has commenced involving the Barisi Village project. This lawsuit, currently involving Blackard subsidiaries and Barisi Village financial partner Dapeng Holdings and its principal Yi Cheng Zheng and manager Luc Vong, was initially filed by Dapeng in late 2021. Unfortunately, it has put a temporary hold on development plans.
On Monday, April 5th, 2022, the 148th District Court issued a temporary injunction affirming Dapeng Holdings’ responsibility for paying costs associated with maintaining the land—including property taxes that had gone unfunded by Dapeng to date. Blackard, the sole management authority for the Barisi Village project, had previously provided payment applications and financial information for these costs to Dapeng Holdings before the financial partner gave notice of their diminished financial capability and Blackard’s funding of numerous maintenance costs themselves.
“The lawsuit brought by Dapeng against Blackard is legally and factually frivolous,” says Andrew Greenwell, Attorney for the Blackard Companies. “Because Dapeng had been unable to fulfill its duties to Blackard and had misrepresented its capacity to do so,” Greenwell explains, “the parties had been negotiating and had virtually reached a resolution when Dapeng filed suit.” “The lawsuit is nothing but a tawdry, ill-conceived effort by Dapeng to gain some sort of strategic trading advantage against Blackard.” “But it certainly backfired on Dapeng, since it required Blackard to make public the misrepresentations of Dapeng and its principal in its counterclaims.”
“Our commitment to building this project and delivering on our vision for this Pharaoh Valley and Coastal Bend community remains as strong as ever. This setback, as discouraging as it may be, cannot derail the progress that we’ve made and the strength of the relationship we have built with the surrounding neighborhoods. I’m proud to have their support and will work every day to keep and strengthen it.” - Jeffory Blackard, Founder and CEO, Blackard Companies
This Barisi Village project is a 127-acre development that follows Blackard’s NeoRetroism village philosophy. Originally undertaken in 2013 by Founder and CEO Jeffory Blackard, Barisi takes its design cues from the coastal regions of Italy and follows the village methods pioneered by the firm—seeking to bring communities together and meet the everyday needs of those who live, work, or visit the village. This project will build on the successful history of evolution-based villages, including Blackard's own Adriatica Village—one of the most visited locations in the Dallas Metroplex.
In 2020, Blackard finalized the purchase of the Barisi site. A cleanup operation had been underway since that time to pave the way for a start to construction on the first phase of vertical development on the site—a step now on hold pending the conclusion of this litigation.
"As a long-term member of the Pharaoh Valley community, I’ve seen this property decline from its days as a country club only to buy into Blackard’s vision for an amazing village on our doorstep. Mr. Blackard’s idea and his commitment to creating a village in this community have added so much to our idea of what this neighborhood can be. We support him and his vision and hope that we can still see it come to fruition one day soon. We’re so thankful for Blackard's commitment in the meantime to doing everything they can to protect our home values and keep our neighborhood and this city as safe and clean as possible." -Steve Gomez, Pharaoh Valley resident and property owner
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About Blackard Companies
The Blackard Companies were formed in 1981 by founder & CEO Jeffory Blackard in Dallas, Texas. Since that time, the Blackard Companies have been responsible for the development of over $2 billion in real estate assets. Much of the company’s history was focused on master-planned communities—the firm has delivered over 15,000 single-family home sites in over 30 communities.
In the early 2000s, following an investment in the small nation of Croatia (a nation which is based largely on village life), the firm broadened its focus and began pioneering a philosophy of real estate based on its founder’s idea of developing contemporary self-sustaining villages. This philosophy has been named ‘NeoRetroism’ and represents the furthest evolution of modern real estate development—one in which people have diverse choices for how they live, work, and get around in their community. The first example of this NeoRetroism philosophy can be seen at the Adriatica Village near Dallas, Tx
The Blackard Companies are now the world’s foremost developer of modern-day villages, actively advocating for communities that better serve the needs of their villagers across the globe. In the Coastal Bend of Texas, Blackard is nearing completion of its historic Lighthouse Pointe Project, a world-class development undertaken with partner Frazier Companies.