Crandall, one of the many exurbs that straddle a highway outside of Dallas, could soon experience a population boom.
Dallas-based PMB Capital Investments announced last week that it is planning a 1,000-home residential development called River Ridge at the intersection of Farm Road 741 and U.S. Highway 175 in Kaufman County southeast of Dallas. Construction starts in November with the first homes available in 2023.
Based on the 2019 U.S. Census Bureau data showing Crandall’s population of 3,650, this development could give a big boost to the Kaufman County city’s population once it’s built out and fully populated. According to 2020 data from Statista, the average household is 2.53 people, meaning at full buildout, Crandall will have an additional 2,530 people, nearly a 41 percent boost.
“Our vision for this development is to create an environment that evokes small-town simplicity without sacrificing the convenience and accessibility of a major city, all with an affordable price tag,” Matt Mildren, a partner at PMB Capital Investments, said in a statement.
PMB Capital, a privately-held real estate investment and development company, already has a big stake in Crandall.
To the east of the River Ridge site is Wildcat Ranch, a PMB Capital Investments-backed 900-acre master-planned community that’s ranked 39th in RCLCO Real Estate Advisors’ semiannual list of the top-50 master-planned communities.
Wildcat Ranch joined WoodCreek in Fate and Magnolia Point in Royse City, also east of Dallas, in RCLCO’s mid-2021 rankings.
PMB Capital is also spurring growth to the east of Dallas-Fort Worth. The developer also purchased the 3,800-acre Veale Ranch west of downtown Fort Worth and is building the adjacent 1,800-home Ventana Community.
River Ridge will include an amenity center, walking trails, and on-site schools. The development’s single-family homes will be on 50-foot and 60-foot homesites and constructed exclusively by Scottsdale, Ariz.-based builder Taylor Morrison.
“River Ridge will allow buyers the space they need while still keeping the character and small-town feel that residents love about Crandall,” Keith Hurand, Taylor Morrison division president for Dallas-Fort Worth, said in a statement.
