North Texas developers put 707-acre Temple tract on market for  million
Posted By DFWNews.app Publisher Posted On

North Texas developers put 707-acre Temple tract on market for $40 million

A property with more than 700 acres is for sale in western Temple by a Dallas company that developed the Artisan Circle in Fort Worth. (Courtesy | Younger Partners)
” data-medium-file=”https://fortworthreport.org/wp-content/uploads/2024/07/image003.jpg?fit=300%2C126&ssl=1″ data-large-file=”https://fortworthreport.org/wp-content/uploads/2024/07/image003.jpg?fit=719,302&ssl=1″ tabindex=”0″ role=”button”>
A North Texas developer that owns an urban village in Fort Worth is stepping into the Bell County real estate market with the sale of a 707-acre property on Temple’s booming west side.

The ranch, which includes the 119-acre stone quarry operated by Miller Springs Materials LLC, is located at the southwest intersection of West Adams Avenue and State Highway 317, near recent retail, housing and apartment developments. The $40 million listing by a Dallas real estate company was posted July 9, according to a news release.

Sponsored

The Central Texas tract, currently zoned for agricultural use, offers commercial and residential opportunities in a fast-growing Central Texas city minutes away from Interstate 35, Dallas-based Younger Partners Executive Managing Director John St. Clair and Senior Vice President Michael Ytem said in a statement. 

“On-site amenities include an operational horse ranch, a working stone quarry and several natural springs,” the news release said. “Also included is a 4,000-square-foot, 19th-century house built from stones sourced from the land and remodeled in 2015.”

See also  Low-income Tarrant County residents can get free tax return assistance. Here’s where

St. Clair said the sellers held onto the land for decades.

“Potential buyers expressed interest in the site in the past, but it wasn’t for sale until now,” he said.

Younger Partners also owns Artisan Circle, a five-block, 282,805-square-foot urban village located at the southeast corner of West 7th Street and University Drive in Fort Worth. The development, formerly known as Crockett Row, is home to several restaurants, shops, a movie tavern, and spa and fitness facilities as well as other businesses.

The company’s land sale comes after Temple saw a 13.4% increase in population between 2020 and 2023, the highest of any Central Texas town. The city now has more than 93,000 residents, according to the U.S. Census Bureau, and is expected to reach 100,000 residents by spring 2025. 

“Temple’s growth has moved west and gone as far as it can,” Ytem said. “Ranch 707 is between that growth and Lake Belton, which is the property’s western edge.”

The site is near new retail outlets and schools in growing western Temple, an area that recently saw storm damage when a tornado struck the city on May 22.

See also  ‘Contribute to the solution’: Arlington expands efforts with street signs to discourage panhandling

St. Clair said the land is ideal for residential and commercial mixed-use purposes, both of which are in demand locally. 

Sponsored

As Temple has grown westward to Belton Lake, residents in nearby housing developments have complained about the quarry’s operation.

Residents who live about 500 feet from the quarry in Temple’s Lakewood Ranch subdivision have complained for years about noise, vibrations and property damage that resulted from the quarry operation.

In 2020, the Temple City Council considered restrictions on quarry blasting limits but voted 3-2 against new regulations for the business.

The quarry is a grandfathered use, Younger Partners spokeswoman Tonie Auer said. 

“It can remain or the quarry lease can be terminated at the current or future owner’s discretion,” she said.

Ytem said the Temple property’s strategic location also provides an opportunity for a business park with retail and residential components.

See also  Fort Worth Stock Show & Rodeo attendance bounces back, rising more than 10% over 2024

“It’s about 1.5 hours away from Austin and 2 or so hours from Dallas,” he said. “With the massive growth along the I-35 corridor and more connectivity between these cities, this ‘tweener’ position could be an ideal home base for companies that do business in both cities.”

St. Clair said the property is expected to attract attention from potential buyers.

“Although Younger Partners is a Dallas-based company, we have successfully transacted Austin-area deals,” he said.

Eric E. Garcia is a senior business reporter at the Fort Worth Report. Contact him at eric.garcia@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *