Building boom

Affordable new community with parks and trails planned for west Fort Worth

West Fort Worth might deserve a new name: Master-Planned Land. A 389-acre, master-planned community unveiled November 2 will neighbor a 7,200-acre, master-planned community that’s already underway.

Homebuilder LGI Homes plans to construct 1,225 single-family homes at affordable price points as part of a six-phase project northwest of the intersection of Loop 820 and I-30. The development will be a few miles east of the 7,200-acre Walsh Ranch master-planned community, which eventually will feature more than 18,000 homes north of the intersection of I-20 and I-30.

Homes at the new LGI community will be priced at $230,000 and $280,000. In the first phase, homes will be available in late 2021 or early 2022. At those prices, the homes in the development will collectively be worth more than $300 million.

“In Dallas-Fort Worth, brand new single-family homes are hard to come by at this price point,” Ryan Duffie of Cushman & Wakefield says in a release. “With current limited availability, these homes are expected to generate significant interest.”

LGI says the new project will mirror a nearby LGI community known as The Bridges, which is in Crowley. Details aren’t available about the homes in the new development, but planned amenities include a playground, picnic shelter, walking trail, outdoor basketball court, sports field, and possibly a splash pad (but no mention of a "lazy river" like the one planned for the recently announced Wildflower Ranch development in far north Fort Worth). More than $3 million has been budgeted for parks and amenities.

The new community will be in White Settlement Independent School District.

LGI bought the land from Crow Holdings and James R. Harris Partners. Duffie and Cushman & Wakefield colleague Chris Harden represented Crow Holdings and James R. Harris Partners in the deal.

LGI, based in The Woodlands, is the 10th largest homebuilder in the U.S. Before the November 2 announcement, the homebuilder had rolled out seven new communities in Dallas-Fort Worth this year. Through the first nine months of this year, LGI sold 5,931 homes in Texas and 17 other states.

Houses will be priced between $230,000 and $280,000.

Photo courtesy of LGI

Houses will be priced between $230,000 and $280,000.

home-for-sale

Closure News

American Freight furniture chain to shut down 2 Fort Worth-area stores

American Freight

There's a big sale going on at American Freight.

There's a huge sale on furniture going down right now, but for a sad reason: American Freight, a chain of furniture stores operating in dozens of states, is permanently shuttering all 328 locations, due to “sustained inflation and macroeconomic challenges,” according to its parent company.

That includes two Fort Worth-area stores, part of seven stores overall in the Dallas-Fort Worth.

The closing comes after its parent company, Franchise Group, Inc., filed for bankruptcy protection, according to documents filed in the U.S. Bankruptcy Court in Delaware.

Store closing sales began on November 5, both online and at its 328 locations. Hilco Consumer-Retail is managing these sales for American Freight as the business winds down its operations nationwide. Significant discounts are being offered on the brand's full assortment of inventory.

Shoppers can save up to 30 percent off the lowest ticketed prices storewide. Available items include living room sets, bedroom furniture, dining tables, and a selection of scratch & dent and new in-box appliances, such as refrigerators, washers and dryers.

New inventory is arriving and expected to move quickly, so customers should take advantage of this prime opportunity to enjoy exceptional deals before it's too late.

"Our goal is to deliver outstanding value to customers during this full chain closing sale," said Ian Fredericks, CEO of Hilco Consumer-Retail. "Everything is on sale and must be sold, and we recommend shopping early for the best selection."

During the store closing sales, select American Freight financing and delivery services will remain available to customers, presenting a unique opportunity to shop exceptional discounts with the convenience of flexible payment and home delivery.

The chain has 39 stores in Texas, including 7 in DFW and two in Tarrant County, all closing as follows:

401 Southwest Plaza, Ste 105, Arlington
1265 Town Square Dr, Fort Worth
1825 Westpark Dr Grand Prairie
2964 W Wheatland Rd, Dallas
109 N Greenville Ave, Allen
1215 Marsh Ln, Carrollton
1418 N Town East Blvd, Mesquite

Sale Details
They're offering up to 30 percent off the lowest ticketed prices on furniture, scratch & dent, and new in-box appliances. Discounts are valid in stores and online. All sales are final, of course. Shop now for the best selection while supplies last.

closings