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**Denton Mega-Development Will Include 1,515 Apartments, 1.2M SF of Commercial Space**
Old Prosper Partners has officially closed on the 2,870-acre Craver Ranch, located just north of Denton, Texas. The acquisition kicks off a substantial, long-term development project with ambitions that could reshape the region.
According to estimates reported by the Dallas Business Journal, the development will span 17 years and is expected to cost approximately $5.1 billion. The project, which aims to launch construction in 2028 and reach completion by 2045, includes a wide mix of residential and commercial components. Plans call for 7,091 single-family homes, 584 townhomes, and 1,515 apartment units. Additionally, the development includes 1.2 million square feet of commercial space, three schools, and approximately $462 million in infrastructure investments.
To support the extensive infrastructure needs, the city has approved the creation of a municipal management district. As a political subdivision, this district will have the authority to collect property taxes or assessments from property owners to help finance infrastructure development. Initially, the developers will cover infrastructure costs, with reimbursement to come via bonds issued by the district. These bonds will then be repaid over time through property owner assessments.
Meanwhile, Johnson Development Corp. is progressing with plans for the 3,169-acre Cole Ranch, located just outside Denton. This master-planned community is projected to be valued at $5 billion and will feature 4,365 homes. The first round of homes is scheduled for delivery in 2027.
Both projects represent significant residential and commercial growth for the Denton area, responding to rising demand for housing and infrastructure in the rapidly expanding North Texas region.
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