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6 months ago

Republic Property Begins Shaping $6B Fort Worth Master-Planned Community

Dallas Business Journal by Candace Carlisle | Monday, Nov 7, 2016 | Original article here

The Dallas-based development firm behind a $6 billion, 15,000-home master-planned community will open doors to their first homes next spring. The community is called Walsh for the historic homestead.

Republic Property Group gave the first home lots to home builders David Weekley Homes, Drees Custom Homes, Highland Homes and Village Homes. In all, it will eventually total 580 sites in the first phase of the 7,200-acre community near where Interstate 20 and I-30 merge in west Fort Worth.

The master-planned community developer plans to use the land’s natural topography, as well as inspiration from architecture used in Fort Worth’s iconic neighborhoods to make a unique community, said Jake Wagner, co-CEO of Republic Property Group.

“We looked at great neighborhoods that held their value over time and determined what predominant architectural styles we wanted to build,” Wagner told the Dallas Business Journal.

The master-planned development firm put together a 130-page pattern book filled with building standards and architectural guidelines for the builders. With distinctive home lot sizes of varying shapes and sizes, Wagner said this will bring a community “never seen before until Walsh,” to the market.

Republic Property Group has a history of developing master–planned communities. The firm is in the midst of building out $1.6 billion Light Farms in Celina and $1.5 billion Phillips Creek Ranch in Frisco, which has attracted a lot of new residents.

Walsh, which sits about 12 minutes from downtown Fort Worth, will bring a whole new world of housing options to Fort Worth residents, Wagner said.

The initial phase of Walsh will total 1,700 acres with a projected build-out cost of $1.6 billion. In all, Wagner said he expects the initial phase to have a 12- to 15-year build out.

“We think this will include homes as well as commercial development,” said the 35-year-old executive. “With the entire 7,200 acres, we have to see how it develops over time, but it could include major commercial corporate campuses or medical uses or other uses.