Ground was broken in October, and dirt and utility work have followed, according to Tim Shaughnessy, president of HPI Multifamily. The next sequence of construction is adding a deceleration lane on the south side of Blue Mound Road and a turn lane on Bonds Ranch Road, work that is being done by the general contractors, Blackland Partners.
“I'll be honest, it will probably be a good case study for somebody to look at in terms of developers building roadways versus cities building roadways,” Shaughnessy said. “I think Bonds Ranch is a good example, and we're happy to bring these improvements. It's a benefit to us, as well, in the area.”
The details
The 829-unit development is a mixture of apartments and cottages/townhomes, according to a news release.
The first phase will be a 396-unit, three-story apartment complex, and residents are expected to occupy the units in early 2027, Shaughnessy said.
The next phase will include 193 cottage homes, followed by an additional 240 apartments, with plans to break ground on these in 2027.
Currently, there isn’t a name for the apartment complex yet. Shaughnessy said HPI bought the 55-acre property in 2022 and worked through zoning and approvals to start construction. The development is located in Council District 4, according to a city zoning map.
The apartment complex will have a walking path throughout the community, pickleball, resort-style pool, indoor and outdoor fitness center, and a golf simulator. Shaugnessy said HPI will be trying a new rental service, by the hour or daily, on sites such as golf clubs, standup paddle boards and Yeti coolers.
What they’re saying
“This is where we wanted to be, we wanted to plant a flag for a few years,” Shaughnessy said. “We're seeing a lot of growth in north Fort Worth, and we're going to continue to build more projects up here. It seemed like there was a gap in the market for a high-end product that we're going to deliver up here. The supply and demand seem more imbalanced than some other markets right now.”
What else?
HPI is investing $16 million of its own capital in the project, alongside a group of private investors that include high-net-worth individuals, family offices and registered investment advisers, according to a news release.
The project is within the Northwest ISD school boundary and is less than 2 miles from Alliance Town Center.
