FORT WORTH - Provident Realty Advisors purchased the 468-acre ranch on Chisholm Trail Parkway in Fort Worth.
The property was owned by the family of legendary Fort Worth businessman and car collector Aggie Pate.
Provident Realty obtained zoning from Fort Worth to build a single-family home community on about half the land, with commercial and mixed-use construction on the rest.
“We have several things working – a grocery anchored shopping center on the corner and we are kicking off the single family homes with two builders,” said Provident CEO Leon Backes. “We are working on plans for the first phase of apartments.”
Backes said the first apartment project will have about 300 units.
The Pate Ranch project is one of several large land developments underway along the new Chisholm Trail Parkway which links the area with Fort Worth.
Provident Realty and its partner Kroenke Group are building several apartment and mixed-use projects in North Texas. Its largest projects are the Preston Hollow Village on North Central Expressway and the nearby Midtown Park development.
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