Construction has begun on a project that will bring 10,000 homes to a property north of Fort Worth.
D.R. Horton broke ground on the 500-acre Bluestem development for Dallas-based developer PMB Capital Investments, the Dallas Morning News reported. The development is part of the larger 3,600-acre Rolling V Ranch property.
Rolling V Ranch includes the 3,100-acre Reunion, which is set to yield 9,000 to 10,000 homes. That portion will be located across the street from Bluestem.
PMB’s Bluestem will include 1,200 single-family homes along FM 3433 between Rhome and Newark.
“This was just the next natural step if you look at 287, but this project is unique in that it’s at the intersection at 287 and 114,” PMB Capital founding partner Peter Pincoffs told the publication. “You’ll have folks living here that are going to take 114 further to Southlake or Las Colinas, and so you get to take advantage of two major highways and the employment that happens along those.”
Bluestem’s offerings will be ranch-style houses from D.R. Horton’s Rio series that will be priced around the mid $300,000s or higher. Residents of the community will have access to large lakes, waterfalls, hills and woodlands in the surrounding area, as well as a resort-style pool, pavilion, event lawn, playground and dog park.
The developers bought the site, which is located northeast of Eagle Mountain Lake, in 2019 with the intention of creating more affordable homes on the outskirts of Fort Worth. At the time, the development was estimated to cost about $3.5 billion.
PMB Capital is known for developing properties in major cities in the US Southwest. It has more than 7,000 residential lots included in its portfolio.
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