FORT WORTH, Texas — Plans are underway for another brand new housing addition in Fort Worth, proving yet again it's one of the fastest-growing cities in the country.
Stephen Moriar lives in one of the newer South Fort Worth neighborhoods. He and his girlfriend relocated to the Ventana Subdivision.
"I used to live close to downtown," said Moriar.
For exercise, Moriar and his girlfriend enjoy going on walks in their neighborhood.
Despite the longer-than-normal commute to and from work, having a newer model home has been a dream come true. However, urban sprawl is still a hot topic for Moriar as a young professional.
"It's interesting. When I first moved here, areas like Magnolia were still run down. And the gentrification, and a lot of these closer to the city center areas is really interesting," Moriar said. "It's exciting, but at the same time, you hope that development progresses responsibly and not in a way that's going to leave Fort Worth like California."
Thanks to development and demand, he and his girlfriend are about to get 5,000 new neighbors.
The Veale Ranch Project is not just another sign that Fort Worth is one of the fastest-growing cities in the country, but that the need for housing continues to increase.
The "P" in the company name PMB Capital Investments stands for Peter Pincoffs. He, Matt Mildren, and Taylor Baird became business partners almost a decade ago and founded their land development company. PMB Capital Investments recently acquired the Veale Ranch property.
"We started PMB in 2013," Pincoffs said. "When the opportunity came to buy it, we had a six or seven-year relationship with the family that owned it."
A land-use map shows the construction area for homes starting at around $350,000.00.
There are also plans for retail and even park space, which is important to Moriar.
"I spend a lot of time mountain biking and outdoor, so access to public green spaces is important to me," said Moriar.
Pincoffs explained their business venture will spark more development for jobs and attract outside corporations. What's even more important is the new development will give people, like Moriar, a shot at the American Dream.
"I think about what it's meant to my family personally, to be able to own a home," said Pincoffs.
"I think that homeownership is part of the American Dream for a lot of people," said Moriar.
The Veale Ranch Project covers land in both Fort Worth and Aledo, which will be served by both school districts. There is also an opportunity for families interested in higher-priced homes. The completion of the project could span over a period of 15 years.