The city of Fort Worth added more than 110 acres via an annexation of an area contiguous to the Walsh development in Parker County.
City Council voted unanimously Oct. 29 to annex 78 acres of land and 32 acres of right-of-way in an area known as Walsh West. The area is north of Interstate 20 and south of Old Weatherford Road.
The proposed development spans two phases, with construction of several commercial buildings estimated for phase one. The owners of the land are the ATH-1187 Ltd. and Walsh Ranches Limited Partnership, part of the Walsh development group. The area is zoned for general commercial development.
The fiscal impact on the general fund of the city is expected to be negative in the first five years of the development as Fort Worth provides utilities and other services. But the overall impact is expected to be positive, with the development bringing in $2.4 million in tax revenue over 10 years and $38.6 million over 40 years.
The once-rural area west of Fort Worth first began to change when the Walsh family — who had owned 7,000 acres of ranch land just north of Veale Ranch since the 1930s — opened the land up for development.
In August, the University of Texas at Arlington announced plans for a new campus on 51 acres in the Walsh development. In September, Worthington Bank said it had acquired land for a new corporate headquarters at the corner of Interstate 30 and Walsh Ranch Parkway.
Development of the 7,267-acre Walsh Ranch began in 2017 via a partnership with Dallas-based Republic Property Group. About 1,600 acres are included in the first development phase, with 3,500 total planned homesites.
This story was originally published by Fort Worth Report | Oct. 29, 2024
