A 3,400-acre land deal will bring more than 10,000 homes to Wise County
The Rolling V development is getting closer to reality.
PMB Capital has finally closed on the purchase of 3,400 acres of land in Rhome in Wise County for a massive $3.5 billion mixed-use development. The plan is to build 10,000 homes and also build out for commercial space.
The land is located north of Fort Worth near the intersection of Highways 114 and 287. Home prices will range between $200,000 to more than $500,000, and the homes will offer outdoor amenities, including 800 acres of open space, a trail system around existing lakes, seasonal creeks and natural springs.
According to previous Star-Telegram reporting, 3,000 people are expected to move into Rhome during the next five to 10 years, which is why the development is going forward.
The first phase of construction at the start of next year will focus on infrastructure, including roads and sewer work.
“This purchase is an investment in a well-established corridor for residential construction and will provide attainable housing options for people working in Alliance Airport, downtown Fort Worth and surrounding areas,” said Peter Pincoffs, PMB capital partner, in a statement. “Moreso, this is a long-term bet on the demand for reasonably priced single-family homes in DFW.”
This story was originally published November 26, 2019 at 12:18 PM.
