Beall Investments has recently acquired a 317-acre Hereford cattle ranch near Willow Park, a small town located 20 miles west of Fort Worth. With plans to develop the land into a mega-mixed-use project worth an estimated $500 million, the city is currently working on organizing and preparing for this major development.
The proposed project will include various components such as residential homes, apartments, light industrial buildings and more. Situated at the southwest corner of I-20 and FM 1187, this acreage is part of the larger Dean Ranch spanning over 2,000 acres.
Beall’s vision for this site includes allocating approximately 135.2 acres for commercial space, with another 91.7 acres designated for multifamily units and an additional35.3 acres set aside for single-family homes. The remaining55 .5acres will be utilized as light industrial space along with parks,trails,and green areas to enhance community living.
According to reports from Dallas Business Journal,the cost of infrastructure development across three phases is expected to reach $57 .8million.The city also plans on creating atax increment reinvestment zone which would allow some tax revenue generated from increased property values in that area overthe next40 years,to be directed back towards fundingthe developer’s efforts.
With its current population standing at around6 ,630 residents accordingto U.S.Census Bureau data,Willow Parkis gearing upforthis massive projectthatwill bring significant economic growthand opportunitiesfor its community membersin thenear future.
