Dallas-based private real estate investment and development firm PMB Capital Investments plans to kick off a new $500 million master-planned community in Fort Worth, which will bring homes from the upper $200,000s to the mid $400,000s to this part of North Texas.
The community will bring more affordable home options — or homes priced under $300,000 — to the region.
The community, called Ventana, sits on Chapin School Road between Interstate 20 and U.S. 377, and will get underway on the first phase model homes by the end of the month.
The Ventana community will give Fort Worth homeowners access to excellent public schools, close proximity to employers and the amenities of a major master-planned community, said Peter Pincoffs, co-founder of PMB Capital Investments.
The project's builders include David Weekley Homes, CalAtlantic Homes and Dallas-based Dunhill Homes. Initially, the builders will construct 185 homes in the initial phase.
At built-out, Ventana will have nearly 1,500 homes, with the ability to expand even further.
Ventana's community amenities include a 2,400-square-foot open-air pavilion, outdoor grills and dining areas, a resort-style pool, event lawn and miles of walking trails.
The community feeds into the newly completed Westpark Elementary School and the Benbrook Middle-High School in Benbrook.
The details of the build-out timeframe of Ventana or potential expansion information was not immediately available Wednesday.