Dallas-based Crow Holdings and James R. Harris Partners has sold 389 acres in West Forth Worth for a new residential community.
Houston-based LGI Homes bought the land for a 1,225-home development. Homes in the Vista West community will be priced between $230,000 and $280,000 and will be constructed in six phases.
The first neighborhoods will be ready by late 2021 or early 2022. The new community site is near the northwest intersection of Interstates 820 and 30, near the 7,200-acre Walsh Ranch development.
“The property benefits from outstanding accessibility and connectivity as it’s conveniently located off Interstate 30 allowing future residents direct access to major employment, medical and entertainment hubs, including downtown Fort Worth, JPS Hospital, Lockheed Martin, West 7th, Sundance Square and the Fort Worth Stockyards,” Cushman & Wakefield’s Chris Harden said in a statement.
Harden negotiated the land sale along with Cushman & Wakefield’s Ryan Duffie.
LGI Homes is one of the country’s top 10 homebuilders and already has communities in the Dallas-Fort Worth area.
Single-family home starts in North Texas were up by more than a third in the most recent quarter, with the greatest demand for houses priced at less than $300,000.
“With current limited availability, these homes are expected to generate significant interest,” Duffie said.