Resting on more than 1,700 acres to the southwest of Fort Worth, the property known as Rock Creek Ranch promises to become another wave of major development along Chisholm Trail Parkway with about 3,800 homes planned in single-family development alone.
Walton Global acquired the property known as Rock Creek Ranch in 2014. The property is located 19 miles southwest of downtown Fort Worth. The firm estimates full build-out will happen over the next decade, and its vision calls for a true mixed-use district, with residential, multifamily, office, retail and industrial development.
Walton Global is a land asset management company and global real estate investment organization. According to the firm’s website, it has 81,000 acres under ownership or management primarily in the fast-growing regions in the southern U.S., including several extensive parcels in North Texas.
The firm owned another parcel to the north of Rock Creek Ranch, called Chisholm Trail Ranch.
“The Chisholm Trail Parkway that was being built through there really made it a logical path of growth extension for the new Fort Worth,” said David Peter, executive vice president of special projects at Walton Global. “I believe that’s proving itself out today with all the development happening around that area.”
A PID was established for the property, which issued bonds in 2017 and 2018. The PID was used to build a portion of Brewer Boulevard that extends into the project and the Tarleton State University campus, as well as other infrastructure improvements. The university’s Fort Worth campus is located on an 80-acre parcel donated by Walton Global. The university is planning additional buildings for the campus and is estimating it’ll serve about 9,000 students by 2030.
In addition to the single-family development planned for Rock Creek Ranch, the current master plan calls for between 2,000 and 3,000 multifamily units. Right now, a builder is taking plans through for what will potentially be the first phase of residential development on the west side of the property. Peter said he’s hopeful that the builder will close and start construction in the next three to four months.
Walton Global has contracted with an apartment developer, and Peter said multifamily development could kick off in the latter part of this year.
“We expect a variety of living opportunities here, both for sale and rental, to be complemented by commercial development over time,” he said. “We think that this will become a fairly substantial and self-contained community when it’s completed.”
There are about 400 acres left that are not slated for specific uses, which are expected to be some form of retail, mixed-use and multifamily.