Denton, Texas, February 3, 2026
Old Prosper Partners has acquired the 2,500-acre Craver Ranch in northern Denton, Texas, with plans for a $5.1 billion development featuring thousands of homes, apartments, and commercial spaces. The project will also include extensive parkland, aiming to significantly enhance the local community and economy.
Investor Purchases 2,500 Acres in Northern Denton for $5.1 Billion Home Development
Denton, Texas – Real estate investment firm Old Prosper Partners has acquired Craver Ranch, a 2,500-acre property in northern Denton, with plans to develop thousands of homes and apartments. The deal, finalized on Friday, is expected to yield a community valued at approximately $5.1 billion upon completion.
Development Plans
The approved development plan includes nearly 7,100 single-family homes, approximately 1,100 townhomes, and around 1,000 apartments. Additionally, the project will feature 340 acres of commercial space and over 360 acres dedicated to parkland, including a 338-acre central park at the heart of the community. The initial phase will consist of approximately 800 single-family homes. The development’s name will be announced in the near future.
City Approval and Support
In December, the Denton City Council approved the zoning and land use changes necessary for the project. The council also established a municipal management district to support the development. Old Prosper Partners has been collaborating closely with city officials to bring the Craver Ranch project to fruition, aiming to create long-term value for north Denton.
Background on Old Prosper Partners
Old Prosper Partners has been active in the Dallas-Fort Worth area in recent years. In 2024, the firm acquired The Colmena Ranch, a 2,452-acre property north of McKinney, with plans for a massive mixed-use development. In 2023, they purchased the 1,076-acre Green Meadows property in Denton County, one of the largest remaining sites west of Prosper and Celina. Since 2022, Old Prosper Partners has acquired close to 9,000 acres in Collin and Denton Counties.
Other Large-Scale Developments in the Area
Several other significant master-planned communities are underway in the Denton area. The Cole Ranch Company L.P. and Denton Range LLC have partnered with Houston-based Johnson Development for the Cole Ranch project, which plans to build approximately 4,400 single-family homes on 3,100 acres, with home sales expected to start in 2027. Hillwood’s Landmark development, a 3,200-acre project at Interstate 35W and Robson Ranch Road, will feature 6,000 single-family homes and 3,000 apartments, along with 900 acres of commercial space, including Denton’s first H-E-B store. The first phase will include 747 single-family lots, with the project estimated to add more than 20,000 residents to Denton’s population and valued at $10 billion upon completion.
Conclusion
The acquisition of Craver Ranch by Old Prosper Partners marks a significant milestone in the ongoing development and expansion of Denton. With a commitment to enhancing the community and providing a diverse range of housing options, the project is poised to contribute to the local economy substantially. As more developments emerge in the region, citizens and investors alike can look forward to a bright future for Denton’s real estate landscape.
FAQ
- What is the Craver Ranch development?
- The Craver Ranch development is a planned community on a 2,500-acre property in northern Denton, Texas, featuring thousands of homes, apartments, commercial spaces, and extensive parkland.
- Who is Old Prosper Partners?
- Old Prosper Partners is a real estate investment firm active in the Dallas-Fort Worth area, known for acquiring large tracts of land for mixed-use developments.
- What other large-scale developments are planned in the Denton area?
- Other significant developments include the Cole Ranch project, planning 4,400 homes on 3,100 acres, and Hillwood’s Landmark development, a 3,200-acre project with 6,000 homes and 3,000 apartments.
| Feature | Details |
|---|---|
| Property Size | 2,500 acres |
| Location | Northern Denton, Texas |
| Planned Residential Units | 7,100 single-family homes, 1,100 townhomes, 1,000 apartments |
| Commercial Space | 340 acres |
| Parkland | 360 acres, including a 338-acre central park |
| Initial Phase | Approximately 800 single-family homes |
| Estimated Completion Value | $5.1 billion |
| Developer | Old Prosper Partners |
| City Approval | Zoning and land use changes approved by Denton City Council in December |
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