Families seeking homes west of Fort Worth have more options on the horizon.
While Walsh Ranch promises thousands of new residences in coming years, another nearby residential development is expected to add more than 2,000 single-family options of its own.
“It’s a great property, a great opportunity,” said Kim Gill, who is joining fellow Fort Worth developer Tim Fleet in building Morningstar, a 737-acre development just north of Interstate 20 off Farm Road 3325 in Fort Worth’s extraterritorial jurisdiction in Parker County. That’s west of the larger and more publicized Walsh Ranch development, also along I-20, but Gill and Fleet foresee no competition.
“From reports I’ve seen, theirs is more expensive than our product and they will do much larger lots,” said Kim Gill, president of Fort Worth-based Sable Development LLC. He pointed to Walsh Ranch’s housing prices as expected to be higher than those of Morningstar, whose first homes will start construction late next March.
Developers Tim Fleet and Kim Gill say their timing couldn’t be better.
With most of the dirt work completed, and plans and plats all approved, the two will begin street construction in December on the $850 million Morningstar development in Fort Worth’s extraterritorial jurisdiction in Parker County.
Home builders are scheduled to start construction on about 80 houses by April, with plans to have those completed and ready for move-in by the time school starts next fall, they said. “This project is hitting the market at about as perfect a time in this cycle as you could,” Kim Gill said.
Morningstar is a 737-acre development about a mile north of Interstate 20 off Farm Road 3325, west of the well-known Walsh Ranch. In the next decade, 2,117 single-family homes will be built, along with 100 acres of parkland, including hike and bike trails along Mary’s Creek, which runs through the property, four lakes connected with cascading waterfalls, and an impressive amenities center.
A group of Tarrant County investors is betting growth will follow the expansion of State Highway 360, U.S. 287 and the U.S. 287 bypass by planning the launch of the second of two major, mixed-use developments in Midlothian. The group is just one of several cashing in on a hot residential market in the Ellis County city.
Lawson Farms Development L.P., comprised of Fort Worth investor Steve Patterson and Colleyville investors Kim Gill and John Orell, filed a plat Feb. 18 for a 290-acre, 760-lot masterplanned community on which they hope to begin construction in May or June.
The project, named Lawson Farms, is on the east side of F.M. 663 immediately south of the U.S. 287 bypass in Midlothian's southern corridor and will include a 15-acre park with a spring-fed lake and walking trails, a site for a proposed elementary school, an amenity center and two commercial tracts. Lawson Farms will develop the commercial properties and about half of the residential area and will sell the balance to...