KELLER -- Christ's Haven for Children foster care center has sold a major portion of its land at Keller-Haslet Road and Park Vista Boulevard -- among the last large undeveloped parcels in far north Tarrant County -- to a Dallas-based developer that plans single-family homes.
The nonprofit organization, which provides foster care for infants to young adults, sold 96 acres in December to Hanover Property Co. The land runs from Keller-Haslet on the north and Park Vista to the east, and stretches 22 acres south of Timberland Boulevard, which will be extended through the property.
Dwight Robarts, the center's executive director, said the board has known for about 10 years that it would be best to sell the land and decided to act after being approached by two developers about 18 months ago.
In the end, eight developers placed offers that led to a deal that took most of 2012 to complete, he said.
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Christ's Haven used the land for a cattle operation, but Robarts said that was never going to produce the amount of money that a land sale would generate.
"We began to see that the economy was shaking loose," Robarts said. "We were not in a place where we needed money. We knew the day might come when we wanted to sell some of the land."
Christ's Haven for Children was founded in 1954 on Vickery Boulevard in Fort Worth and moved to Keller two years later when its founders, Homer and Lillian Steadman, bought a farm. The new development, about 300 homes, will be called Steadman Farms, Robarts said.
Hanover has already sold nearly 31 acres to Bloomfield Homes and nearly 18 acres to Gehan Homes, deed records show. Hanover developed Overton Ridge, Marshall Point and Hidden Lakes, all in Keller, and a number of other residential and retail projects in the Metroplex.
Mark Wood and Mark Howe with Howe/Wood & Co. represented Christ's Haven for Children.
Sandra Baker, 817-390-7727