Levens Capital Partners is under contract to buy a sprawling family-owned ranch as the site of the future Dean Ranch — a master-planned community that will sit on the border of Fort Worth and Aledo.
Dean Ranch will be the first project for the Houston-based developer in the Dallas-Fort Worth area. The future community will span a total of 1,825 acres near Interstate 20 and FM 1187 and will include a total of 2,600 to 3,000 homes and townhomes, as well as commercial space, according to the Dallas Morning News.
Levens’ latest purchase makes up the lion’s share of the space. The 1,500-acre tract has been owned by the Dean family, known for cattle breeding, since the early 1900s.
While the Dean family’s land falls within Fort Worth’s jurisdiction, the remaining 238 acres of the project—at the intersection of Bailey Ranch Road and FM 1187 — has been annexed into the neighboring city of Aledo. Thus, officials have dubbed it an “eastern gateway” into the city.
The move to annex this portion of the project came from a June 23 decision by the Aledo City Council, which created its first-ever public improvement district to help finance $41 million in infrastructure work for streets, sidewalks, drainage and utilities.
“This is a major win for Aledo.” said Aledo Mayor Nick Stanley. In a statement, Stanley stressed the city’s influence over the project, promising that “this gateway to our community” will be “distinctively shaped by the design standards in this carefully negotiated agreement.”
“We know our residents may have concerns about this project, so it is important to understand that the City Council and staff are already taking purposeful steps to plan for and address the dynamic growth happening in and near our community.”
The Aledo section of the project will include 325 single-family homes and 100 townhomes built by D.R. Horton and other builders alongside an amenity center, a swimming pool, pocket parks and at least 35 acres of commercial development.
Neither Levens nor the Aledo city officials have an expected date of completion for the development. Homebuilding in the metroplex has been a nightmare, according to developers with projects in the area. Supply chain delays, permitting hangups and rising material costs have plagued the industry, even as the area’s rapid population growth has created a dire need for new housing.
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