The private property, which was previously leased by the state, was recently sold to Dallas developer for $110 million. The sale kicked off a campaign by park lovers and state lawmakers to save the property.
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Dallas-based Todd Interests became the owner of the Fairfield Lake State Park property, about 70 miles east of Waco, at the start of June. The previous owner, Vistra Energy, sold the 5,000-acre property, including the park, five years after closing its power plant by the lake.
Vistra sold a roughly 5,000-acre property in Freestone County — which included Fairfield Lake, the now-shuttered state park and additional land — to Dallas developer Todd Interests in June to be turned into a luxury neighborhood with multi-million dollar homes.
Fairfield Lake State Park and the surrounding property is now officially in the hands of a Dallas-based developer. The land has been under contract with development firm Todd Interests, which intends to transform the property into a gated community.
Fairfield Lake is the largest private lake in the state and is estimated to be about 50-feet deep. The property, marketed by Hortenstine Ranch Company, is in its namesake city of Fairfield and is about 90 miles southeast of Dallas.