Summary: Growth is coming from the West via Port-to-Plains Highway I27. And growth is coming from the East via the Historic Veale Ranch, with 1500 acres being readied for a business mega-site. The Community News article.
Latest Update: 01 June 2023
Growth from the East.
Growth is coming from the West via the Port-to-Plains Highway I27, Willow Park Blog > New Port-to-Plains Interstate, Growth from the West, Update
And growth is coming from the East via the Historic Veale Ranch, with 1500 acres being readied for a business mega-site.
Fort Worth prepares last remaining swaths of vacant land for major development (in .pdf), The Community News, 20 May 2023, Excerpts
Cattle still graze along the rolling hills of what used to be the Historic Veale Ranch. They won’t be there forever.
Taylor Baird, a partner at PMB Capital Investments, considers the 1,500 acres of remaining vacant land as a development gold mine. His company already developed a 492-acre master-planned community known as Ventana adjacent to the vacant property.
“Very rarely do you have this much land that is so close to a city center. And that has been a key selling point to the users that are coming in,” Baird said. “The other thing is just how fast and big this place is and how much growth you can really accommodate here.”
The importance of ‘shovel-ready’ land
About 30% of Tarrant County’s land is vacant, according to 2020 data from the North Central Council of Governments. Most land is used for housing in Tarrant County – about 30% for single-family and a little over 2% for multifamily. A relatively small percentage of land – 7% – is used for industrial purposes such as manufacturing plants.
About 42% of Parker County’s land is vacant, with another 32.16% being residential acreage and 12.81% single family homes. [See hardcopy of The Community News article.]
The loss of a huge economic development deal with electric carmaker Rivian in 2021 forced the city to realize the importance of having infrastructure and land ready for manufacturers to start construction immediately.
Rivian eyed an area around Walsh Ranch for a new plant, but ultimately the company landed in Georgia, where the company has faced stiff opposition from residents.
Sturns cited water requirements as a reason behind Rivian’s decision. The city was already constructing water and sewer lines, but Rivian needed a certain amount of gallons per day for the site, which Fort Worth was unable to provide within the tight deadlines the company set, Sturns said.
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