Fort Worth-based James R. Harris Partners said Monday it expects to begin construction in the spring on a $67.5 million residential development in Argyle called 5T Ranch.
The 55-acre development, located at 406 Country Club Road near the Denton Country Club, will feature 90 sites for single-family custom homes priced from $600,000 to $1 million. It will also feature nearly 19 acres of park land to include soccer and tee-ball fields and playground and picnic areas, the developer said.
Justin Welborn, managing partner of 5T Ranch and a partner in JRH Partners, said they are now selecting homebuilders for the project.
“The project will generate an estimated $1 million in additional annual revenue to the Argyle ISD with an estimated 59 additional students expected when all of the homes are purchased,” Welborn said. “Combined impact fee income for the town of Argyle and the Argyle Water Supply District from the development will be a minimum of $968,670.”
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JRH Partners purchased 5T Ranch from The Miles Foundation of Fort Worth, which was represented by Mike Ball of Mike Ball Realty Corp. in Fort Worth. JRH Partners represented itself.
This is JRH Partners’ second home development in Argyle. It is also developing The Oaks of Argyle, a $55 million, 40-acre residential neighborhood of custom homes. Eight builders have started construction on a total of 27 homes.
Since its founding in 1979, JRH Partners has been involved in developing neighborhoods for more than 50,000 homes as well as commercial projects in Dallas-Fort Worth and Austin.
Sandra Baker, 817-390-7727