Many of Clients have ask about the Walsh Ranch Development and I wanted to give you all an update on some information that was recently published. I know you all are anxious to see this project take off.
Dallas-based Republic Property Group has been chosen to lead Walsh Ranch development as the 7,200-acre residential community takes shape in west Fort Worth.
Following months of speculation, the F. Howard Walsh family named the Dallas developer to oversee a community that could add more than 15,000 homes to land along Interstate 20 where it and Interstate 30 merge.
After considering more than 40 potential developers in a nationwide search, the family chose Republic Property Group to transform the property.
“In RPG [Republic Property Group], we have found a partner who shares our passion and vision. They are legacy minded in their desire to create a world class community, which will have a positive, lasting impact on the region,” said Malcolm Louden, president of Walsh Holdings, in a news release.
The company considers Republic “a natural choice,” citing its more than 48 years of developing signature projects. The firm has overseen Stonebridge Ranch in McKinney; Phillips Creek Ranch in Frisco; and Light Farms in Celina, among other developments.
”We chose RPG because they share our vision to be innovative and with their combination of youth and experience they will be able to grow with this community,” F. Howard Walsh III said.
According to Tony Ruggeri, Republic co-CEO, the firm will work in conjunction with the Walshes to fulfill its vision of becoming a premier development on a national scale.
“We are currently in the planning phases and are scheduled to break ground later this year,” Ruggeri said.
At full buildout, Walsh Ranch is expected to offer single-family homes, schools, churches, hospitals, retail, office, hotels, multi-family and other mixed-use space.
“Our collective vision is to create an iconic community that complements Fort Worth, promotes growth and brings another facet to the thriving city,” said Jake Wagner, co-CEO of Republic.
From a market standpoint, Wagner described the timing for the development as “perfect, allowing the family and RPG to capitalize on the growth of Fort Worth and the region. Walsh presents an unparalleled development opportunity.”
That’s because it’s the largest contiguous tract of land in the country within 10 minutes of a major central business district, Wagner said.
The development’s first phase will be single family homes on about 1,700 acres, Ruggieri and Wagner said in an interview.
Between 300 and 500 homes could be built on that acreage, with the first becoming available as early as late 2016 and with “2017 being the first year of big sales,” Wagner said.
Total buildout of the first phase, depending on market conditions, could be 10-12 years, he said.
The homes will be mainly in the Aledo Independent School District, with some in the Fort Worth district, Wagner said.
Republic is talking to the city of Fort Worth about revising development agreements, Wagner said. Subdivision planning, lot layouts and replatting will follow. Republic will start talking to homebuilders this summer, with plans to release lots to builders beginning in the late fall, Wagner said.
The development will have a diverse range of lot sizes and homes, going from smaller ones to large custom-built homes, the two said.
Prices will start at about $300,000. “They’ll go up as high as the custom market allows,” Wagner said.
The development will also feature a strong array of amenities, Ruggieri and Wagner said. Republic is collaborating with city and industry leaders in discussions about amenities, Ruggieri said.
As to what those amenities might look like, he said, “We’re not quite there yet, but they will be spectacular.”
Total buildout of the 7,200 acres could take 40-50 years and add $6 billion in taxable value, Ruggieri and Wagner said.
The Walsh family has a long history of community involvement. Since the 1930s, the family has directed its philanthrophy to several Fort Worth institutions, including Bass Performance Hall, Fort Worth Academy of Fine Arts, Harris Methodist Hospital, All Saints Hospital and Cook Children’s Medical Center. It also donated land for the Northwest Campus of Tarrant County College and has contributed to Texas Christian University, including the Mary D. and F. Howard Walsh Center for Performing Arts, Walsh Sports Medicine Complex and renovations to Daniel Meyer Coliseum.
More information on Walsh Ranch is available at http://www.walshranch.com/.
At Realty World Professionals and as your Realtor, we stay ahead of the Real Estate Market trends and bring you the most value in bringing you information to help you with all your Real Estate needs.
Whether you are thinking of buying or selling Real Estate in Parker County or the Dallas Ft. WorthMetroplex we want to be your Realtors of choice. We have a professional team of Realtors to help you with all your Real Estate Needs.
Call TODAY and get started looking for your dream home. We are here to help you with ALL your Real Estate needs.
Buy or Sell a Home with Us…..Use Our Moving Truck for FREE!
Mark’s mobile 817-690-0954, Pam’s mobile 817-690-0976 or Alicia’s mobile 817-680-7786, or Call our Office 817-441-7707 to talk to one of our very committed, experienced and professional Real Estate agents.