Hines, the global real estate investment manager, together with partners Trez Capital and the Furst Family, recently acquired the first 90 acres of what will become Furst Ranch, a large master-planned community in Denton County. The project is set to cover more than 1,000 acres in total between Flower Mound, Bartonville and Argyle.
According to Hines (via WFAA), Furst Ranch will feature three distinct neighborhoods to suit various homebuyer preferences: High Plains, with 1,100 lots ranging from 50 to 80 feet; Prairie Vista, with 200 lots from 0.5 to 1 acre; and Cross Timbers, with 74 lots from 1 to 2 acres. The newly acquired 90 acres are part of the High Plains neighborhood, where development is already in progress. Hines and its partners plan to acquire the remaining 948 acres over the next six years.
The project features homebuilders such as David Weekley, Coventry, Highland, Shaddock, Drees, Tradition and Partners in Building. Homes will be priced from $800,000 to over $2.5 million.
"The acquisition of the initial parcel sets the stage for this meticulously planned, multi-phase community in a prime location,” said Dustin Davidson, managing director at Hines in an official statement. "Furst Ranch will provide an exceptional outdoor environment, particularly impressive for a development of this magnitude. We look forward to working alongside our partners to meet the demand for high-quality and diverse housing options in this prime market.”
Furst Ranch will offer rolling open spaces, semi-custom homes and thoughtfully designed residential areas that blend both connectivity and privacy. The community will be served by the highly regarded Argyle Independent School District and will feature an extensive trail system for easy connectivity. Future phases of Furst Ranch may also include senior living facilities, retail options and a variety of other living arrangements to create a well-rounded community experience.
Alongside this new Denton County project, Hines and Trez Capital have also unveiled plans for Northspur, a 700-acre master-planned community located in Terrell, east of Dallas.
“We are dedicated to building a better future, together with our partners,” said John Hutchinson, Co-CEO and global head of origination at Trez Capital. “Our long-time partnership with Hines has yielded many opportunistic investments and we expect Furst Ranch will be another successful venture, setting a new benchmark for master-planned community design while meeting the growing population demand in North Texas.”
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