Proceeds from the sale of bonds from Cole Ranch Improvement Districts No. 1 and No. 2
Use of Proceeds:
Reimbursement for eligible public improvements
Cole Ranch
Denton County
Cole Ranch is a 1,494-acre mixed-use development located 33 miles north of downtown Ft. Worth and 49 miles northwest of downtown Dallas.The development is part of the larger planned Cole Ranch community, however, only the 1,494-acre portion is relevant to the bonds.
Cole Ranch is being developed by Johnson Development.
The development is anticipated to include 1,607 residential lots, 104 acres of commercial and retail space, 55 acres for a business park, 70 acres for multi-family development, and 15 acres for an elementary school. Construction on the first 406 residential lots is expected to commence in August 2026.
At the time of issuance:
37% of lots were under contract to six homebuilders, with $10.4mm in earnest money deposits collected.
8% of the reimbursable budget had been spent with $3.4mm of eligible costs outstanding and owed to the Developer.
