By Anna Butler – Real Estate Editor, Dallas Business Journal
Rockhill Capital & Investments has acquired Shoop Ranch, a 1,807-acre property in New Fairview, spanning Wise and Denton Counties near County Line Road and FM 407.
With the transaction, Frisco-based Rockhill plans to develop a city square with shopping, restaurants, civic, emergency services and office space; 4,150 single-family homes; and 900 multi-family residences, among other offerings. The firm is collaborating with the City of Fairview to create a “sustainable living environment” that is expected to include educational facilities, parks and sports fields, and recreational facilities.
Fishable stretches of Oliver Creek meander through the acreage, which, per the master plan, should include pedestrian hike and bike trails, a ridgeline, heavy vegetation, trees and berms.
“The Council and staff are focusing on maintaining our current rural feel, natural elements and open space, while creating a development and city center where people can live, work and play,” said Ben Nibarger, New Fairview’s city administrator, in a prepared statement.
The real estate developer’s Jennifer Alexander said that, as North Texas natives, Rockhill understands the land, the needs of residents and the future of the region, stating that New Fairview is “in a position for growth.”
Infrastructure investment and improvements are part of the agenda for the sprawling development, with Rockhill planning to partially fund the expansion of County Line Road into four lanes. Water, sewer and high-speed internet are also among the improvements set for the New Fairview community.
Infrastructure construction is expected to start in two to three years.
Rockhill Capital & Investments recently partnered with Horizon Capital Partners to purchase almost 700 acres between Preston Road and the Dallas North Tollway route north of FM 455 for a new residential development in Celina. The community, called Villages of Uptown, will have lots for 2,500 single-family homes plus parks, green space and a hike-and-bike trail along the south side of the development leading to Celina’s downtown district.