SCOTTSDALE – Walton, a leading land asset management and global real estate investment company based in Scottsdale, Ariz., recently announced the first closing of 36 acres that is part of a larger 215-acre land parcel in the City of Ferris outside of Dallas, Texas. D.R. Horton, a top national homebuilder by volume in the U.S., has acquired the property with plans for a mixed-use, master-planned development named Bluff Springs that will be built in multiple phases.
Located 19 miles south of downtown Dallas near Red Oak and Ferris in Ellis County, Bluff Springs is conveniently situated between Interstate 35 and Interstate 45 with frontage along Farm-to-Market Road 664 and Farm-to-Market Road 983.
“This much-needed community will now take shape with this first phase of development,” said David Peter, executive vice president, special projects for Walton. “Home inventory is in especially high demand in this area, and we look forward to working with D.R. Horton to support their plans to complete the residential build-out.”
D.R. Horton plans to turn the 215 acres into more than 830 lots, along with commercial parcels flanking a realigned FM-664 with the land situated within five miles of the Dallas Logistic Hub, a 4,300-acre master-planned logistics park adjacent to four major highways, dual rail with intermodal facilities and a future air cargo airport. It is anticipated that the Dallas Logistic Hub will create thousands of jobs and aid as a catalyst for growth in the region’s Metroplex.
Currently zoned under a development agreement with the City of Ferris, Bluff Springs’ intended use includes a municipal utility district which creates a competitive advantage over properties that do not have cost reimbursement mechanisms. The concept plan consists of a mixed-use, master-planned community with various single-family homes, retail centers, recreational open space, schools, and additional amenities for all ages.
Ellis County is the birthplace of the infamous Clyde Barrow and features a wide selection of shopping, fine dining, and outdoor recreation, including Lake Bardwell and Lake Waxahachie. The county’s residents and visitors can also experience high-speed thrills at the Texas Motorplex and enjoy Texas’ oldest bluebonnet trails every spring during the Bluebonnet Trails Festival.
Walton continues to play a significant role in administering land investment projects with just-in-time inventory in close proximity to the fastest growing metropolitan areas, like Dallas Metro, in the U.S.