Fears about coronavirus and the economic downturn aren’t stopping home sales in west Fort Worth.
The Walsh development near the Fort Worth-Aledo border is adding 388 new homes this year, said Seth Carpenter, Vice President of Development at Republic Property Group, the Walsh developer.
The activity in the neighborhood, which today is home to 1,100 people but eventually could be 50,000-strong, is an indication that demand for single-family housing is still high in North Texas, he said.
The homes are part of a new neighborhood known as Lake Park, within the Walsh development. As the name implies, the Lake Park neighborhood abuts a 9-acre lake surrounded by dozens of newly planted mature trees, a dock for kayak launching and playground equipment.
None of the homes under construction in Lake Park actually back up to the lake. That’s by design, Carpenter said, so that all residents of the area can access the water and surrounding park space by sidewalks and trails.
“We want people to use the parks to go out and meet their neighbors,” Carpenter said.
Real estate professionals at Walsh haven’t noticed a decrease in the number of prospective buyers visiting the west Fort Worth development in recent weeks, Carpenter said. Stock markets have experienced steep declines during the past two weeks, and most experts say the main culprit is concerns about the coronavirus hampering the movement of people and goods around the world.
But Carpenter said the economic slump could help prospective home buyers afford their homes. The Federal Reserve earlier this month cut interest rates in an emergency move to support the economy, which Carpenter said could make mortgages more affordable for buyers.
WHO’S BUILDING THE HOMES
Seven builders are putting in homes at Walsh — including Britton Homes, David Weekley Homes, Drees Homes, Highland Homes, Perry Homes, Toll Brothers and Village Homes.
The homes will be priced from the $260,000s to $800,000s. Most of the housing is single-family, although there are some “two-pack” and “four-pack” townhomes mixed in.
Walsh straddles the Tarrant County-Parker County line, and is within the Aledo school district. Mary D. and Howard Walsh Elementary School has already opened in Walsh, and a middle school is scheduled to open in 2022.
Fort Worth Star-Telegram, March 12, 2020, Gordon Dickson | View Original Article