A. Lee Graham
The Walton Group of Cos. has acquired 1,755 acres along Fort Worth’s Chisholm Trail Parkway for a master-planned community.
Walton, a Calgary-based real estate investment and development group with U.S. headquarters in Scottsdale, Ariz., acquired the 1,755-acre property from the Texas General Land Office in Tarrant County. The company hopes its project will help meet growing residential and commercial needs in the corridor.
“With over 25,000 acres of land under administration in Texas, Walton is committed to getting more involved in Tarrant County and working with local officials to expand economic opportunity in the region,” said CEO Bill Doherty in a news release.
The property is bisected by the recently opened Chisholm Trail Parkway corridor with land to the east and west of the 27-mile parkway. Much of that land had been part of a planned “prairie park” to preserve native plants and species, but supporters did not raise the funds to purchase hte land.
District 6 Fort Worth City Councilman Jungus Jordan helped oversee the $1.4 billion parkway and voiced support for growth surrounding the corridor.
“It took a tremendous and dedicated effort to see the Chisholm Trail Parkway become a reality for the citizens of Tarrant County,” Jordan said. “We want to see this area grow and prosper and we hope this development announcement from Walton is the first of many.”
The acquisition marks Walton’s first in the Fort Worth area. The company currently oversees more than 25,000 acres of land in Ellis, Hunt and Grayson Counties in North Texas, as well as Hays and Caldwell Counties in Central Texas.