- Hines bought the 1,476-acre Brown Ranch in west Fort Worth after about a year of negotiations with the city and plans 3,800 single-family homes built over roughly 12 years.
- Lots will range from 2,000 to 4,500 SF, and the plan includes at least three amenity centers, 10 neighborhood parks, a trail system and 70 acres of commercial land.
- A municipal utility district came with a requirement to build major off-site roads up front, reflecting Fort Worth’s effort to avoid the infrastructure gaps seen in the north.
Hines has acquired Brown Ranch, a 1,476-acre tract on Fort Worth’s western flank, and plans to build 3,800 homes in a master-planned community. The Brown Ranch acquisition follows roughly a year of negotiations with the City of Fort Worth, The Real Deal reported.
The purchase price was not disclosed.
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The Plan
The Houston-based firm cited a housing supply gap and population growth across the metroplex. Hines plans to build the single-family homes over about 12 years.
Lots will range from 2,000 to 4,500 SF. Rob Witte, Hines’ head of residential land development for the Americas, provided the details.
The community will include at least three amenity centers and 10 neighborhood parks. It will also feature a trail system and 70 acres of commercial development for future services.
Deal Team and Financing
Landy Burdine, Austin Reilly and Josh Watson of Land Advisors Organization represented the Brown family. Burdine said homes should sell for about $500K on average.
Meanwhile, homebuilders include Beazer Homes, DRB Homes, HistoryMaker Homes, Meritage Homes, Pulte Homes and Risewell Homes.
Trez Capital is the capital partner. In addition, Harvest Capital and TPG Credit are providing financing for the acquisition and development.
Roads Come First
Hines secured a municipal utility district. However, the firm must build significant off-site road infrastructure.
Burdine said the city did not want the road shortfalls seen in North Fort Worth.
The plan includes Walsh Ranch Parkway as the main north-south arterial. It also calls for new West Point Boulevard and upgrades to Old Weatherford Road.
Why It Matters
Large master-planned land deals set the supply pipeline for years. As a result, requiring roads up front shows how cities are shaping growth.
Burdine said the family always saw the land as the next major master-planned community. That view gained support after the sale of neighboring Walsh Ranch about a decade ago.
What’s Next
Watch for lot deliveries and the road build-out. Together, they will set the pace for the roughly 12-year delivery schedule.
