D.R. Horton, a prominent name in real estate, has set its sights on a significant expansion in north Fort Worth, planning the construction of over 1,200 new homes.
The Arlington-based builder submitted plans to the Fort Worth City Plan Commission, which will review and vote on the case on August 23.
Although the commissioners had previously approved plat development plans in 2016 and 2021, the new plans include the addition of 67 more lots.
If approved, the ambitious project will span 430 acres south of State Highway 114 and north of Elizabeth Creek. It will be bordered on the east by FM 156 and on the west by the BNSF Railroad.
Houston-based LJA Engineering is partnering with D.R. Horton to build the community.
D.R. Horton is the leading homebuilder not only in North Texas but also in the United States.
In the midst of inflation and rising interest rates, the demand for single-family dwellings softened late last year, as previously covered in The Dallas Express. As a result, firms like D.R. Horton slowed down land acquisitions and walked away from building contracts, incurring a total of $34 million in write-off costs in the last quarter of 2022 alone. Its home sales dropped by 38% nationally in this same period.
The firm had success nonetheless, with its master-planned community, The Silverado in Aubrey, named the top-selling residential development in the state in 2022 with 820 units sold, as covered in The Dallas Express.
Recent data actually suggest that Dallas is now facing a housing shortage, as reported by the Bank of America Institute.
The fact that the city of Dallas is considered difficult to build in has contributed to this issue, with permit delays and approval setbacks frequently reported.
Some homebuilders, like Dallas-based Landsea Homes Corporation, have turned their eyes to projects outside of Dallas-Fort Worth, such as in Austin.
Louis Darrouzet, CEO of the Metroplex Civic & Business Association, suggested in a previous interview with The Dallas Express that “Right now, the City is getting in its own way.”