A recent sale puts another sprawling Texas ranch on track to become home to thousands of new residents.
On Monday, Houston-based Hines announced the acquisition of Brown Ranch—a 1,476-acre tract in western Fort Worth. The property is set for a 3,800-home master-planned community, featuring 70 acres of commercial development, at least three amenity centers, 10 neighborhood parks and an interconnected trail system.
Five home builders will construct the single-family residential homes, expected to range in size and price point: Beazer Homes, DRB Homes, HistoryMaker Homes, Meritage Homes, Pulte Homes and Risewell Homes. Developers say the project will add housing in a fast-growing region as the country grapples with a housing supply gap.
“Dallas-Fort Worth continues to benefit from strong population and employment growth, infrastructure investment and sustained housing demand, making it an attractive market for Hines’ high conviction living strategy,” Rob Witte, senior managing director and head of residential land development (Americas), said in a news release. “Brown Ranch gives us the opportunity to help deliver new housing at scale in one of the country’s fastest-growing regions, working alongside an experienced group of homebuilders.”…