Lennar has secured 1,800 acres northwest of Fort Worth for a residential community called Ranchland.
The Miami-based homebuilder bought the land, in New Fairview, from Frisco-based developer Rockhill Capital & Investments, the Dallas Business Journal reported. Financial details of the sale were not disclosed.
Lennar plans to use the site, near County Line Road and Farm to Market Road 407, to develop a master-planned community with over 4,000 homes, along with apartments or townhomes.
Ranchland is expected to have a major impact on New Fairview, a town with a 2023 estimated population of 1,500. Rockhill purchased the 1,807-acre property in 2022, with development consultant Ocie Vest spearheading entitlements for the project.
Lennar’s plans add to its growing presence in North Texas, including its Northpointe community expansion in northwest Fort Worth, which will have 1,000 homes.
The company is involved in several other residential projects across Texas, such as a 100-home 3D-printed community outside of Austin. That project, which is a collaboration with Icon Technologies, is considered the first large-scale 3D-printed residential development in the country.
In San Antonio, Lennar is leading the residential construction boom, focusing on entry-level homes primarily on the city’s South, West and Far West sides.
The homebuilder has also launched the Elm Trails tiny-home project on the East Side of San Antonio, offering affordable homes priced under $200,000. Additionally, Lennar is working on a housing project near Bastrop, dubbed “Project Amazing,” in collaboration with Elon Musk
Rockhill Capital is also advancing its own developments, including Uptown Celina, a 2,500-home project spanning 675 acres in Collin County.
— Andrew Terrell
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