A 1,476-acre ranch that crosses the border of Tarrant and Parker counties is set to become a new development of an expected 3,800 homes.
Houston-based developer Hines announced on Friday it has acquired Brown Ranch, with plans for a master planned development with single-family housing, featuring an array of lot sizes and price points and approximately 70 acres of commercial development.
No price for the acquisition was released, but Harvest Capital, which is providing financing for the acquisition along with TPG Credit, said in late September it had closed on a $140.9 million loan for the acquisition and development of Brown Ranch. Trez Capital is capital partner on the project.
Homebuilders involved in the project include Beazer Homes, DRB Homes, HistoryMaker Homes, Meritage Homes, Pulte Homes and Risewell Homes. According to Hines’ announcement, plans call for a minimum of three amenity centers — such as a possible clubhouse, pool or fitness center — 10 neighborhood parks, and an interconnected trail system, with the preservation of many natural features, including mature trees and a large creek. The development is in the Aledo ISD.
“Brown Ranch gives us the opportunity to help deliver new housing at scale in one of the country’s fastest-growing regions, working alongside an experienced group of homebuilders,” Rob Witte, senior managing director at Hines, said in a news release. “It is an important addition to Hines’ national land development platform.”
The Fort Worth City Council approved an agreement with Hines in June regarding the development, which is in the city’s extraterritorial jurisdiction. Fort Worth will extend water and sewer services to the area. A municipal utility district in the area will help fund new infrastructure for the project.
The area is north of Old Weatherford Road, south of White Settlement Road and northeast of the booming Walsh development.
The western side of the Dallas-Fort Worth area has been growing fast in recent years. Parker County’s population last year was estimated at nearly 185,000 people, an increase of about 25% from 2020, according to U.S. census data. Fort Worth grew about 12% over the same period.
Walsh, a master-planned development in west Fort Worth built on former ranchland owned by the Walsh family, is now home to major housing developments with about 2,500 residents. Earlier this year, Walsh announced it was planning to develop nearly 1,000 new lots.
Along with the Walsh and Veale ranch developments, the area will be the setting for Fort Worth’s second H-E-B grocery store and University of Texas at Arlington’s new 51-acre campus, UTA West.
The Brown Ranch project could keep area home prices from rising by increasing the inventory of houses for sale, said Shawn Buck, 2026 president of the Greater Fort Worth Association of Realtors and a broker at United Real Estate DFW Properties.
“We are beginning to see inventory dip slightly in much of the region,” he said. “If inventory continues to fall below the balanced range of four to six months, we will likely see more homes with multiple offers and higher median home prices across the board. A balanced market is advantageous for the economy as it usually means there are more options out there at various price points.”
Land Advisors Organization represented the Brown family in the sale.
Disclosure: H-E-B is a contributor to the Fort Worth Report. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org.
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