Arlington-based homebuilder D.R. Horton has purchased 151 acres of land in southwest Fort Worth for a residential development to be called Longhorn Estates, according to the seller, global real estate investment and management firm Walton Global.
It is the first two phases of what is expected to be a four-phase development with 1,000 homes at West Cleburne Crowley Road and South Hulen Street, Walton Global said Thursday. The property is just west of Crowley and about a 20-minute drive to downtown Fort Worth.
“With reports of annual starts in the Crowley Independent School District reaching an all-time high, we are committed to supporting this demand and building long-lasting communities that meet the needs of the growing population in the area,” Michael Sanders of Walton Global said in a statement.
The builder plans to deliver homes on the site in late 2024, D.R. Horton division president Todd Horton said in a statement provided by Walton Global. The property also has two commercial sites available.
“Our ability to provide homes and amenities to the Southwest Fort Worth area is something we are incredibly proud of and look forward to continuing,” Todd Horton said.
Just west of Longhorn Estates, Walton said it also just sold an additional 82 acres to D.R. Horton. That property is the first residential phase of the 1,767-acre Rock Creek Ranch West master-planned community, which will also include retail, office and other commercial space.
D.R. Horton, the nation’s largest homebuilder, saw a 37% year-over-year increase in sales orders last quarter despite higher mortgage rates and inflationary pressures. It ranked No. 1 in national closings in the 2022 Builder 100, based on its almost 82,000 closings in 2021. The company closed 83,201 homes in the 12-month period ending on June 30, 2023.
