UPDATED Feb. 18, 6 p.m.: Walton Global plans to bring almost 3,800 single-family homes to the Rock Creek Ranch.
The Arizona firm acquired the 1,700-acre property, 19 miles southwest of Fort Worth along Chisholm Trail Parkway, in 2014, the Dallas Business Journal reported. It aims to build a mixed-use neighborhood over the next decade, including 2,000 and 3,000 multifamily units. Some 400 acres aren’t yet designated for specific uses.
Walton has recently shifted to selling off smaller pieces of land to builders rather than selling entire tracts at once. Walton recently sold the last parcel from its 2016 purchase of Chisholm Trail Ranch, Chisholm Trail Ranch, also on Chisholm Trail Parkway, to Meritage and Green Brick Partners, as part of that $1.4 billion master planned development.
Construction could start this year, according to Walton’s David Peter. “The Chisholm Trail Parkway that was being built through there really made it a logical path of growth extension for the new Fort Worth,” he said.
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The city of Fort-Worth established a public improvement district for the properties, providing Walton with reimbursement for eligible infrastructure. Walton built a portion of Brewer Boulevard that connects the project to Tarleton State University. The campus sits on an 80-acre parcel donated by the developer the same year it bought the tracts for Chisholm Trail and Rock Creek Ranch.
“We think that this will become a fairly substantial and self-contained community when it’s completed,” Peter added.
The 42-year-old company specializing in pre-development projects manages 81,000 acres of land in the U.S. and Canada, according to its website.
Walton made headlines in 2019 when 300 Walton land projects, from Alberta to Washington, failed to materialize, leading to lawsuits, Bloomberg reported.
[Dallas Business Journal] – Maddy Sperling