SOURCE: Parks Bell Ranch

Parks Bell Ranch

February 12, 2016 10:30 ET

Early Valentine From Permian Basin Developer: Land Grant of 180 Acres for Parks

ODESSA, TX --(Marketwired - February 12, 2016) - Parks Bell Ranch (PBR), a master-planned lifestyle community underway in north Odessa, announced the Parks-Bell families' donation of more than 180 acres of land near Faudree and Yukon roads to be granted to the Odessa Parks Foundation as parkland. The donation also includes the establishment of a public amphitheater for community events.

DR Horton, builder of the Homestead at Parks Bell Ranch, has already sold more than 200 home sites and built 120 homes within the last year. Future plans include pedestrian walkways, jogging paths and vast spaces for community residents to enjoy outdoor activities. PBR anticipates a build out of up to 700 new homes near the intersection of Yukon and Faudree Rd. by 2018.

"The planned community idea out there is a lot of city-center-type development, where residents can live close to where they work and families have a sense a community -- being able to enjoy all the benefits of this active, outdoor lifestyle," developer Larry Bell said. "And a significant parkland in that area is key to encouraging a healthy, balanced way of living."

The Cross B development group continues to work with the Texas Department of Transportation and the City to transform north Odessa into a true lifestyle community in the heart of the Permian Basin. Additional plans for PBR include athletic fields, schools, trails, and xeriscaping with sustainable greenery. Plans for phase one of the 500,000 square-foot-commercial development include space for retail stores, small businesses, restaurants, corporate offices, hotels, medical buildings and other neighborhood service providers.

"The Bell family has a long history of working with, and giving back to, the city of Odessa, and we believe PBR is one way we can assure our community thrives and continues to be an engaging place for families to live," said Brian Bell, a developer of PBR.

The three tracts of donated land, approved by the Odessa City Council on October 27, 2015, are about two miles long and deemed suitable for trails, athletic fields and playgrounds. Further, current low interest rates, hundreds of building permits for single-family homes and high demand to purchase homes in the Odessa market are obvious advantages for a residential and commercial developer.

"We do appreciate building a lifestyle community of this magnitude, which may take a decade, means ups and downs in the market are inevitable, but we're in it for the long-haul," said Brian Bell. "Area builders continue to see growth potential for sustainable neighborhoods. And, we're confident, with future athletic fields, as well as hike and bike trails, that Parks Bell Ranch will be a real draw, for local residents looking for a master-planned community."

The developers consider Parks Bell Ranch a relevant solution for Odessa's housing shortage and think it offers the potential for significantly reducing ongoing traffic issues at Hwy. 191 by utilizing Yukon Road as a major throughway.

About Parks Bell Ranch:

The Parks Bell Ranch (PBR), currently under development, is a Master Plan community of 1,700 acres annexed in north Odessa, with an entry located at the intersection of Yukon and Faudree Road. PBR and Cross B, the developer, are owned and operated by Bell family partners. The Parks Ranch was homesteaded in 1918 by Roy Parks, Sr. The Parks and Bell families have been a cattle-ranching, horse-raising, and land-developing family operation, with ongoing management of urban lands. The Parks and the Bells began as rural ranchers in the Midland/Odessa community and, over time, fostered the growth of Odessa into robust urban lands with a targeted development plan for further community expansion.

Cutline for photo:

The public amphitheater at Parks Bell Ranch will be located at the original site of the watering hole from 1918. Odessa, Texas. Photo © Courtesy Parks-Bell Family Archives.

Cutline for rendering:

Phase one of the 500,000 square-foot-commercial development at Parks Bell Ranch, Odessa, Texas. Rendering ©Parks Bell Ranch.

4801 N Midland Drive, Suite E
Midland, TX 79707

Development Location
Parks Bell Ranch
Intersection of Yukon & Faudree Road
Odessa, TX 79765
http://www.ParksBellRanch.com

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Image Available: http://www.marketwire.com/library/MwGo/2016/2/12/11G082688/Images/Parks_Bell_Ranch-Phase_1_Commercial_Development_Re-b9fc8c1f23b9ade7a68119c63fda8829.jpg

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