A Texas ranch, popularized as the filming location for the hit television series Dallas, was recently purchased by a development firm with plans to create residential lots on the site.

Located just east of Plano in Parker on North Murphy Road, the Southfork Ranch has the moniker of “the world’s most famous ranch.” Its website boasts that it is considered “a premier special events venue and meeting destination in the Dallas Metro Area.”

Offering 63,000 square feet of event space, the Southfork Ranch is known for hosting a variety of events, including weddings, reunions, holiday parties, corporate meetings, concerts, company picnics, and more.

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Centurion American Development Group, based in Farmers Branch, announced that it had acquired the 241-acre Southfork Ranch after having eyed the property for some time. Complete details for the ranch’s future residential lots have not been specified, but the firm said, “the size and number will be determined in conjunction with discussions with the City of Parker.”

Southfork Ranch received national recognition when it debuted on the popular CBS television series Dallas in 1978, more than four decades ago. Although the show ended in 1991, it has remained in syndication since then, furthering the Ranch’s notoriety as a picturesque tourist destination and event venue.

With the purchase of Southfork Ranch, Centurion American Development Group now has several projects under various stages of development in Collin County, including Collin Creek in Plano, Legacy Hills in Celina, and the Villages of Hurricane Creek in Anna.

According to its website, Southfork Ranch operates from 10 a.m. to 4 p.m. between Tuesday and Sunday. It is closed on Thanksgiving and Christmas.