A new real estate development encompassing 296 acres in Crowley, Texas, is being planned by an Arizona firm. An unnamed “top national homebuilder” is reportedly set to handle the construction of over 1,200 homes.
The land, known as Sewell, was acquired by the Walton Group and is located in a suburban community with an estimated current population of 19,193. At this time, the land is in the midst of being annexed into Fort Worth.
The unnamed homebuilder had previously identified the land as a prime investment opportunity and asked Walton Group to purchase it for the proposed development.
No pricing models for the estimated 1,200-plus homes have been announced yet. The current housing market is one in which demand remains strong while the available number of housing options is limited, which has led to a rapid increase in prices across the country.
While the bulk of the property will be residential, plans are also in the works to use 6 acres to develop commercial businesses.
Key businesses such as grocery stores, hospitals, and pharmacies are already in place in the surrounding area. Additionally, the property’s proximity to both the I-35W and Chisholm Trail Parkway allows easy access to Fort Worth or Dallas.
The Sewell development will be next to another Walton Group property acquired earlier this year. The Rock Creek Ranch development is an even more ambitious effort to build between 3,800 to 3,900 homes on its 1,700 acres of land.
Walton Group Executive Vice President David Peter indicated that the area’s continued growth is a key reason for his company’s aggressive approach.
“The market has continued to push southward here, and we’ve seen lots of interest from investors for many different uses,” Peter said. “We’re bullish on this area, and we think it’s going to continue to grow.”
Crowley is a suburban community in Tarrant County that, according to census figures, had a population of 18,070 in 2020. That marked an increase of over 40% in the number of new residents compared to the previous decade. Tarrant County as a whole saw a 16.7% jump in population from 2010 to 2020.
While this project is a central component of continued local development, Walton Group’s scope extends far beyond the Metroplex. The company either owns or manages approximately 98,000 acres across North America.
