Author: Industry News
July 17, 2014
Stratford Land, Legacy Capital and the Walton Group of Companies (Walton), a family-owned real estate investment and development group in Texas, with U.S. Headquarters in Scottsdale, Arizona, announced today that Walton has purchased the single-family portions, approximately 268 acres, in the Chisholm Trail Ranch Master Plan in Fort Worth, Texas. The development is bisected by the recently opened Chisholm Trail Parkway, and will include approximately 1,100 single-family residential homes, multi-family and commercial uses.
“With the newly opened parkway and easy access to downtown Fort Worth, Chisholm Trail Ranch has the potential to become a vibrant master-planned community and Walton’s first development project in Texas,” said John Vick, Regional President, Walton Development and Management, South. “Chisholm Trail Ranch is Walton’s second acquisition in the Fort Worth area and we are excited to get more involved in the community and help bring more economic development to this growth corridor,” he added.
Walton is currently in discussions with builders and plans lot delivery the end of 2015. Walton has also been working with the Crowley ISD on a planned elementary school site within the first phase.
In June 2014, Walton closed on 1,755 acres of land from the Texas General Land Office. That property is directly adjacent to Chisholm Trail Ranch and could allow for shared resources between the two projects.
“We are proud to have Walton, who has been in business for over 30 years, take all of the single family land at Chisholm Trail,” said Steve Sanders, Stratford Land’s senior investment manager for Texas. “Walton’s master-planned communities are exceptionally well designed. They take the long view of development and are committed to responsibly transitioning land into sustainable communities where people live, work and play.”
Peter Aberg, of Legacy Capital stated “We are also seeing increased interest in the retail at the hard corners of McPherson and Chisholm Trail Parkway. We expect the commercial development will follow the residential as is common in mixed-use communities.”