Happy trails for developers: Chisholm Trail Parkway expected to spur residential, retail growth

Posted Tuesday, Oct. 22, 2013  comments  Print Reprints

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In about eight or nine months, the Chisholm Trail Parkway toll road is scheduled to open, connecting a 28-mile corridor between downtown Fort Worth and Cleburne that has remained vacant for decades as other North Texas neighborhoods grew up around it.

And about halfway between the two endpoints of the toll road is a planned 625-acre development known as Chisholm Trail Ranch, where developers envision a mix of residential and retail uses — including a movie theater and restaurants.

On Wednesday, community leaders and real estate developers will gather to celebrate the approaching end of the road work — which officials say could be wrapped up as soon as late June — and the beginning of property development at Chisholm Trail Ranch.

“There hasn’t been a significant residential or commercial development in southwest Fort Worth in a long time, and we are excited to bring it on board,” said Peter Aberg, a partner with Dallas-based Legacy Capital Co., which is developing the project.

Aberg said the group aims to open a first phase of residential in 2014, followed by commercial in 2015 or 2016. Previously, the developers said about 300 acres will be set aside for single-family homes.

A long list of local dignitaries is expected to speak at the event Wednesday, which will be from 4 to 6 p.m. at the northwest corner of McPherson Boulevard and Summer Creek Drive.

Speakers will include Crowley school district Superintendent Dan Powell; Kenneth Barr, the North Texas Tollway Authority board chairman and former Fort Worth mayor who is expected to provide an update on the project; and current Mayor Betsy Price.

The land straddles the planned highway in southwest Fort Worth at the future interchange of Chisholm Trail Parkway and McPherson Boulevard. It is about 5 miles south of Hulen Mall.

Legacy Capital has been involved in several Tarrant County real estate deals over the past decade. It bought about 106 acres just north of the Chisholm Trail Ranch project, near Sycamore School Road. It has also been involved in land deals in the Alliance Corridor in far north Fort Worth.

This report includes material from the Star-Telegram archives.

Gordon Dickson, 817-390-7796 Twitter: @gdickson

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McPherson Boulevard and Summer Creek Drive, Fort Worth, TX
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