A large-scale development project is in the works for a former Hereford cattle ranch in Willow Park, Texas. Beall Investments has acquired 317 acres of land for $100 million, located just 20 miles west of Fort Worth. The city is currently working to prepare for this potential $500 million project, which will feature a mix of residential and commercial spaces on the southwest corner of I-20 and FM 1187.
This parcel is part of the larger Dean Ranch property spanning over 2,000 acres.
Beall’s plans include a diverse range of amenities such as houses, apartments, light industrial buildings as well as parks and green space across approximately135.2 acres dedicated to commercial use; multifamily units occupying91.7 acres; single-family homes covering35.3acres;and55.5acres designatedfor light industrial purposes.
According to reports from Dallas Business Journal,the infrastructure costs are estimated at$57 .8millionover three phases.Additionally,the cityis exploringthe creationofa tax increment reinvestment zone that would allow some tax revenue generated by increased property values over40 years to be redirected backtothedeveloper.
Willow Park’s populationaccordingtothe U.S.Census Bureau stands at approximately6 ,630 residents.The townis now preparingforthis monumentalprojectthatwillbring significantchangesand opportunitiesfor growthin their community.
