Watery News

Biggest lake in Texas southeast of Dallas is for sale for $110M and change

It's about 2,400 acres, give or take.

HRC

There's a private lake for sale that's being billed as the largest private lake in Texas: Fairfield Lake, a 2,400-acre body of water located in Freestone County that's one of the most unique rural land assets in the country.

Centrally located between Dallas, Houston, and Austin, and just east of I-45, the lake is surrounded by 21+ miles of undeveloped and elevated shoreline, with opportunities for entertainment, residential, commercial, or investment development.

According to a release, asking price is $110,550,000.

Property features include:

Recreational lake, estimated to be 50 feet at its deepest point, good for fishing, water skiing, boating activities, and swimming
Mature hardwood forest with array of wildlife including whitetail deer, armadillos, river otters, beavers, squirrels, foxes, bobcats, songbirds and bald eagles
Pristine lake water with a thriving trophy bass population as well as catfish, bluegill and sunfish
10 acres of wetland ecosystems
8+ miles of highway grade blacktop two lane roads and bridges
Three concrete boat ramps with truck and trailer parking
Combination of underground and above-ground power throughout the property
Massive 4,350-foot earth-fill dam with Low Hazard classification from the Texas Commission on Environmental Quality

The property is being marketed by Hortenstine Ranch Company, which focuses on rural, recreational, farm and ranch property sales in Texas and Oklahoma.

Blake Hortenstine, Broker/Partner of Hortenstine Ranch Company, says in a statement that "a water asset of this magnitude is virtually impossible to find anywhere in the lower 48 states, and combined with the land development possibilities and amenities, is the only offering of its kind."

Fairfield Lake is located in the town of Fairfield, a rural ranch community of nearly 2,900 people, that's approximately 90 miles southeast of Dallas and a three-hour drive from both Houston and Austin — basically as centrally located as you can get, in one of the most coveted areas of Texas.

According to the Texas Water Development Board website, the lake was originally built in 1968-1969 by Texas Power and Light Company (now TXU) to create a dam for industrial (thermal-electric power generation) purposes.

It comes with a state park, called appropriately Fairfield Lake State Park, that sits on its shore. Some reviews of the lake are amusing disappointed by the fact that the property is too unspoiled. ("It is undeveloped except for the Texas Utilities Power Plant and Fairfield Lake State Park — so there isn’t a lot to see or do.")

The state currently leases the land so the new owner can decide whether or not they want to maintain the lease.

That $110,550,000 asking price — it seems like they've added that extra $550,000 as kind of an obvious negotiating thing. Surely they'd let it go for $110,000,000?

home-for-sale vacation

GP News

Grand Prairie expands to the south with new master-planned community

Rendering courtesy of Provident

Goodland Grand Prairie

The City of Grand Prairie is growing fast and expanding to make way for a new master-planned development south of US Highway 287 and along Tollway 360, in Ellis and Johnson counties.

The community development, called Goodland, is the result of Grand Prairie’s recent 1,500-acre annexation extending its southern border toward Mansfield. Overall, with the added land, Goodland will be a 5,000-acre site featuring 15,000 residences including townhomes, custom homes, and gated communities for 50,000 residents.

According to a release, it will be a “city within a city” and a 45-minute drive from Dallas-Fort Worth. Beyond housing, there will be shops, restaurants, schools, public and private event venues, regional sports fields and complexes, dance halls, churches, trail systems, city parks, ponds, and preserved green spaces.

“This is a significant step in our city’s development,” says Grand Prairie Mayor Ron Jensen in a statement. “Unlike many of our neighboring cities, we have the unique advantage of new development opportunities to our south that will drive the growth and prosperity of our city. We recognized the opportunity and took decisive action.”

Leading the development is Provident, a Dallas-based real estate firm that has created other master-planned communities across Dallas-Fort Worth, such as Preston Hollow Village and Hillstead in Collin County. Provident has plans to work nature into the space design with more than 1,600 acres of creek corridors and floodplain land.

Plans are ongoing for a centralized mixed-use walkable Town Center, complete with civic buildings and other commercial development. Further south on the property near Highway 67, light industrial uses and other private employment campuses are already underway, projects that will contribute vital tax dollars for city growth and future expansions.

“This level of placemaking is quite rare, and certainly not easy to execute, especially in a brand-new community," says Provident Managing Director Rylan Yowell in a statement. "We are committed to a long-term vision with a desire to be good stewards of the land."

A new four-lane road called Goodland Parkway will link Goodland to Grand Prairie at Tollway 360 and US Highway 287. It's set to open by December 2025.

openings