Dallas and Fort Worth sit side by side, but it’s interesting to see how the metro area they dominate is growing.
On the Dallas side, growth is happening on the north and east sides. On the Fort Worth side, growth is going on the north and west sides, further adding to the metro area’s megaregion status.
In a recent move, Dallas-based PMB Capital Investments bought the 3,790-acre historic Veale Ranch west of Fort Worth for a planned development that could total $5 billion in value.
PMB Capital Investments is building nine North Texas residential communities and is building quite the empire around Fort Worth.
East of Veale Ranch, PMB is developing Ventana, a 1,800-home community. PMB is also behind Reunion, a $3.5 billion, 3,400-acre project north of Fort Worth that will have room for more than 10,000 homes on the former Rolling V Ranch. Construction on the first homes ready is expected in fall 2022.
Reunion‘s first phase will offer single-family homes ranging in price from $250,000s to $600,000s. PMB Capital’s Taylor Baird told The Dallas Morning News that builders have already been lined up and new homes would meet market demand in the $300,000 to $500,000 range.
The Veale Ranch has been in the Veale Family since 1935. In 2017, the ranch was listed at $95 million, according to The Wall Street Journal. Single-family developments had already sprung up on the eastern, southern, and western edges of the ranch.
“We’ve long felt the West Fort Worth market would come alive,” Baird told The News. “It’s taken some time, but the area is on every homebuilder’s radar now.”
