It was recently announced that LNR Property Corporation will begin development in the Presidio, a nearly 400 acre site in the Fort Worth area. This piece of land has been traded three times in four years, and this is the second time that a major corporation has tried to develop the land. LNR Property Group has purchased the acreage from a Las Vegas-based investment firm that was asking $4.25 per square foot of the Forth Worth dirt.

Unlike the previous developers, LNR plans to create a multifamily rental housing unit at the crossroads of Interstate 35W and US Highway 287. This development site is believed to be in direct competition with Trademark Property Co., which is currently developing the Alliance Town Center. Also, the development will be close competition for an unnamed lifestyle project that is underway with the Dallas-based Marguax Development pulling the reigns. Both of these projects are nestled on the Presidio