Multiple developers and investors are interested in the 652-acre ranch in Denton, Texas, but the front-running plan is a golf course-anchored mixed-use development. The property also includes a 19,500-sq. ft. home, which could be used as a clubhouse, and an air strip that was used to train World War II fighter pilots.
Hartlee Field Ranch, a 652-acre ranch with a historic air strip in Denton, Texas, could sell to a developer that’s been eyeing it for a golf course-anchored mixed-use development and could be the winning plan for the property if conversations with city officials progress, the Dallas Business Journal reported.
But other investors are also shopping the property, said Angie Nelson, vice president of the ranch and land division of Dallas-based Briggs Freeman Sotheby’s International Realty.
“We’ve gotten a lot of interest, mainly from developers, since Denton County is one of the fastest growing counties in the nation,” said Nelson, who is marketing the ranch with Brenda Moerschel. “The city is on fire and there’s been so much growth and steady development in Denton County.”
Each of the parties interested in Hartlee Field Ranch would utilize the historic airstrip, which trained World War II fighter pilots, in some way. Nelson said a California buyer is flying into Denton County next week to take a look at the airstrip and the home as a possible second home and there’s a China-based group of investors that could buy it for future development, the Business Journal reported.
The front running idea: A developer looking at building a golf course along the north side of the property, with townhomes and ranchettes, or large estates, totaling two- to three-acres apiece, the Business Journal reported.
“The family wants to keep the historic name as intact as much as possible and are working with the City of Denton on possibly creating hike-and-bike trails and additional park settings,” Nelson said. “That’s what the family would love to see left on the ranch.”
The discussions with the City of Denton are progressing, but Nelson declined to comment further. According to the Denton County Appraisal District, Ronald Carter, the son of Don Carter, the founding owner of the Dallas Mavericks, owns the property, which sits along Hartlee Field Road, the Business Journal reported.
Other developers are also looking at the property for potential mixed-use development. Hartlee Field Ranch also includes a 19,500-sq. ft. home, which could be used as a potential clubhouse if the golf course-anchored development takes off, she said.
Because of its historic-looking airstrip and outlying buildings, Hartlee Field Ranch has been used in movies, such as Armageddon and Outbreak, as well as music videos for Faith Hill and Meatloaf, the Business Journal reported.
The home is listed for $13.95 million, which is a reduction from last year’s listing price of $14.85 million.