Hanover Property plans $300M Fort Worth residential developmentApril 22, 2014
A. Lee Graham
Hanover Property Co. of Dallas has snapped up 358 acres at FM 156 Blue Mound Road and U.S. 287 in North Fort Worth for a $300 million, master-planned development.
Berkshire, as the community will be known, will offer 750 single-family homes, with 282 homes on 50- and 60-foot lots planned for the first phase. Groundbreaking is set for later this month.
Builders include Highland Homes, American Legend Homes, Ashton Homes and K. Hovnanian Homes, with residences priced between the low $200,000s and mid-$300,000s.
“Berkshire will offer an excellent opportunity for first- and second-move up households that are seeking a family-oriented neighborhood at an affordable price in North Fort Worth,” said Ted Wilson, principal with Dallas-based new home research firm, Residential Strategies Inc.
Anchoring the development will be a resort-style amenity center featuring an open-air clubhouse, swimming pool and splash pad. Plans also include a trail system, five-acre pond and open green space, as well as a playground.
The first phase of lots will be available in spring 2015, with model homes to open soon after that, according to Hanover Property officials. The master plan spans 30 acres of commercial and 17 acres of multifamily property. Financing the project will be Texas Capital Bank, with Hanover working with Jacobs Engineering to develop the site plan, as well as Mesa Design Group.