Rockhill Capital & Investments sold 1,807 acres near Fort Worth to Lennar for a 4,000-home development.
FORT WORTH, Texas — This story was originally published by our content partners at the Dallas Business Journal. You can read the original version here.
Frisco-based real estate developer Rockhill Capital & Investments LLC has sold a large chunk of land outside of Fort Worth that will turned into thousands of homes.
Rockhill announced Jan. 15 that it sold a 1,807-acre property in New Fairview, 30 miles northwest of Fort Worth, to Miami-based homebuilder Lennar Corp. The price wasn’t disclosed. Lennar plans to develop more than 4,000 homes plus apartments or townhomes in a community called Ranchland near County Line Road and Farm to Market Road 407.
Lennar expects to break ground this summer and deliver homes by summer 2028, according to the announcement.
“This community will offer something for everyone — beautiful homes for all stages of life, a vibrant town square, schools, parks, commercial spaces, and a host of amenities that bring people together,” Greg Mayberry, division president at Lennar, said in a statement. “Ranchland is designed to be more than just a community; it’s a destination where families can grow, connect and create lasting memories.”
Rockhill bought the land in 2022. The land extends across Wise, Denton, Northwest and Decatur independent school districts. Development consultant Ocie Vest of Southridge Park lead entitlement efforts.
“At Rockhill, we strive to identify desirable, high-potential land opportunities and work alongside cities to understand their own visions for growth,” Ryan Griffin, principal and CEO at Rockhill Capital & Investments, said in a statement. “We worked closely with the City of New Fairview to envision a thriving new master-planned community. Lennar is the ideal builder to bring this project to life.”
The neighborhood will be a significant construction project in New Fairview, which had an estimated 2023 population of about 1,500.
Lennar (NYSE: LEN) builds homes in 26 states across the country, and reported delivering 73,087 homes nationwide in 2023. The company is one of the busiest developers in North Texas, and is especially active in northwest Fort Worth. Lennar last year revealed plans to expand the Northpointe community in that city, with around 1,000 more homes in the cards.
Rockhill Capital is expanding its land portfolio. The company is also creating Uptown Celina, a 2,500-home community across 675 acres in Collin County.