Developers are planning more than 4,300 single-family homes as part of a $5 billion master-planned project at Cole Ranch, a Denton County, Texas, landmark for nearly a century.
Johnson Development said it entered into a partnership with The Cole Ranch Co. to build on the 3,100-acre property. Johnson plans to sell lots to homebuilders, with home sales expected to begin in 2027.
Denton County, about 40 miles northwest of Dallas, has a population of more than 1 million, a 56% increase from 2010, according to the U.S. Census. Developments such as Cole Ranch bridge the distance between fast-growing parts of Fort Worth and Denton, said Bill Kitchens, senior director of market analytics for Homes.com.
"Traveling along I-35 between Fort Worth and Denton has mostly been commercial, but this is shifting as developers meet enduring demand for housing," Kitchens said.
Aside from the homes, the Cole Ranch plans call for a 156-acre commercial development, a 55-acre business park and two amenity centers, according to Johnson Development.
“This project is a rare opportunity to work with a family legacy that spans generations and a site that offers unique environmental and cultural significance," Johnson Development President and CEO Michael Smith said in a statement.
Project will protect 1,200 acres
Miner Thomas “MT” Cole bought the site in the 1930s and used it primarily for cattle and crops, according to Johnson Development.
“The ranch was integral to the local landscape back then,” said Jennifer Alexander, Cole's great-granddaughter, in a statement. “MT Cole was known for assisting in cattle drives through the night to other ranches and gave considerable contributions to churches and civic enterprises in Denton and Dallas."
The development will preserve 1,200 acres, incorporating green spaces to commemorate MT Cole's passion for the outdoors, Alexander said.
Houston-based Johnson Development, founded 50 years ago, has two other Dallas-Fort Worth projects: Viridian in Arlington and Trinity Falls in McKinney.
Johnson has partnered with Denton Range to serve as an investor at Cole Ranch. The firm has ties to privately held Silvestri Investments of Houston.