City of Colleyville sells 5.8 acres to real estate company

The city of Colleyville sold nearly 6 acres in the southern portion of town to a real estate company during the Feb. 20 council meeting.

The 5.886 acres was sold to Big Sky Real Property #1, Inc., a development arm of Venture DFW, according to Assistant City Manager Mark Wood.

The details

The city will get a little more than $3.07 million for the property at 4007 Colleyville Blvd. The contract calls for a 180-day closure from the signing of the contract on Feb. 21. Wood said council should expect to review applications for new businesses this summer.

Wood said the property would be a mixed-used development with retail, restaurants and office space.

Quote of note

“We’re excited to partner with them and we are excited to bring this project to Colleyville and bring it to fruition,” Wood said. “They have the contacts with all the retailers and restaurants that we would want to see in our city.”