And, there are no plans afoot for any other type of marketing by Discovery Land Co., based in South San Francisco, says Michael Lorence, who on this day is wearing the hat of sales representative. The upscale, gated community is the first residential development for Circle T Ranch, where Fidelity Investments is nearing completion of the first phase of a corporate campus.
Vaquero isn't just for everyone: pre-development, invitation-only, private-equity memberships cost $60,00 apiece for the 200-acre, 18-hole course, designed by Fazio Golf Course Designers Inc., also of Scottsdale. The Vaquero development is part of a growing portfolio of 11 similarly designed gated golf club communities in California, Montana, Arizona and Hiawaii, where the developer is readying to open its Kukio Bay Beach Club in Kona.
Lorence says Discovery Land is always looking for land, but at this time is not planning any other projects in the Lone Star State. This project was just right for the time, he tells GlobeSt.com. "Hillwood was looking for a good partner as we were looking for a project. It just gelled," he says of the undertaking, which has 288 residential lots broken down into 76 detached golf villa homes, ranging in size from 3,000 sf to 4,500 sf, on 1/4-acre lots and 212 custom home sites from one-half acre to three-plus-acre grand estate parcels. Lot prices range from $150,000 to $1 million, with home costs upward of $600,000.
The dirt-moving process for the par 72 golf course wraps up this fall, with sodding planned for the end of February or the beginning of March. A 30,000-sf clubhouse will break ground immediately after the course is completed. Residential site ground-breakings will begin in early 2001. Lorence tels GlobeSt.com that Discovery Land presently is screening an exclusive builder. A decision will be made by the end of October. The project's general manager is Steve Yetts, who has spent his career developing in Texas.
The northeast Tarrant Co. development is situated at the southwest corner of Dove and Precinct Line roads, in close proximity to the recently expanded Texas 114. The 24/7-manned gate development is designed to take advantage of the ranch's natural rolling terrain, stately post oaks, lakes and meadows.
Lorence says Discovery Land turned to TX history books before settling on the development name of Vaquero, which means cowboy. "We're on a ranch and it sort of fits in with our family of names (for projects," he says. "But, we won't make everything with cowboys on it. In fact, you probably won't see any cowboys. It's just a name."
Lorence of Scottsdale and fellow Discovery Land representative James Bradley of HI plan to stay in TX once Vaquero is completed. "We moved here for a lifestyle change and we like it," says Lorence.
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