Fort Worth Readies for Massive Home Development
Dallas, TX (PRWEB) August 06, 2014 -- Having suffered from a short supply of available homes for purchase, the Fort Worth housing market is in store for a huge boost that should help to sustain the city’s healthy real estate market in the next few years to come. Prudential Texas Properties reports Fort Worth’s impending inventory boost will come from the recent purchase of a large tract of land and planned development of a master-planned community by Arizona-based developer Walton Group of Companies.
According to the latest data from Altos Research, a California-based real estate analytics company, the number of available properties in Fort Worth has struggled to edge up throughout the busy buying season. As of July 18, there were 2,306 properties on the market in Fort Worth, which is a slight edge up from a few weeks prior, but still a major lag behind last year’s high point around 2,600 homes recorded in October 2013.
This value is set to get a major boost beginning with the purchase and development of a parcel of land along the Chisholm Trail Parkway by Walton, as reported by the Dallas Business Journal. The group initially bought 1,775 acres of land in June and has subsequently purchased an additional 268 acres of land for a massive development project off of the newly finished roadway.
The development will be a large undertaking for the group and a huge boon for Fort Worth as Walton hopes to add up to 1,100 homes with the master-planned community.
“We’re excited for these kinds of projects in Fort Worth,” says DD Flynn, VP of Marketing at Prudential Texas Properties. “The addition of these homes will not only help to relieve the pressure brought on by tight inventory, but the development’s easy access to downtown Fort Worth will help the community grow immensely.”
Click here for a 60-second Fort Worth home market update.
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Kim Manning, TRIBUS, +1 (877)894-2824 Ext: 3001, [email protected]
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