Realty Capital Management To Bring $500M Master-Planned Community To Fort Worth Suburb
An Irving developer is building a $500M master-planned community in a booming North Texas city near Fort Worth.
Realty Capital Management is building its 300-acre Westhill Park master-planned community in Mansfield. The 600-home luxury community on Newt Patterson Road is expected to deliver its first phase of lots by March of next year, according to the Dallas Business Journal.
Realty Capital plans to spend $19M on infrastructure construction for the 3.1M SF of land, according to a filing with the Texas Department of Licensing and Regulation. That work is also set to wrap up by the end of the first quarter of next year.
The luxury homes are expected to start at $650K, but the community is also targeting executives with properties priced above $1M. National builder Homebound, which made a $731M expansion bet on North Texas earlier this year, and Houston-based David Weekley Homes are among those slated to construct homes in the community.
Realty Capital Managing Director Tim Coltart said Westhill Park will likely be valued at around $500M once it’s completed.
"In conversations with Mansfield leadership, they have felt like they didn't really have new product that was coming to the market that had a unique feel and wasn't just a simple master plan community with the same old concrete streets and everything else," Coltart said to the DBJ.
Westhill Park will also offer fishing ponds, a 100-acre park and connections to Mansfield’s Walnut Trail. Coltart said every home in the community will be within 600 feet of a trail.
Baird, Hampton & Brown Inc. will design the project.
Mansfield's population has grown by more than 16% since 2020, and the city has attracted several other high-profile projects in recent months.
Super Studios USA LLC plans to build a $750M film and television studio campus in Mansfield beginning this summer. The 75-acre mixed-use development will include an artificial intelligence-enabled studio with eight soundstages, 800 luxury condominiums and townhouses, a hotel, more than 430K SF of retail and an unspecified amount of office space.
Mansfield is also working to grow its footprint in the life sciences industry.
India-based pharmaceutical manufacturer Stallion Labs announced plans last year for a 200K SF headquarters campus in Mansfield. The city is also planning the 17-acre Mansfield Innovation Community that will offer 300K SF of office and lab space.
Mansfield is also benefiting from being home to a large data center campus.
When Aligned Data Centers announced plans last year for a 27-acre data center project there, Mansfield officials made sure the firm also contributed to beautification efforts and replenishing the area's native trees. Aligned established the Roots for the Future fund with the city to enhance sustainability for the community.
