Screen capture from kinglandwater.com/properties/ford-ranch that shows livestock pens on the Ford Ranch outside Brady, Texas. (Photo: King Land and Water)
The San Angelo City Council voted Tuesday to allow the city to negotiate the sale of roughly 8,332 acres of the Ford Ranch.
The property is being sold to Korban Ranches for no less than $1,400 per acre, according to a city news release issued Tuesday, Sept. 29, 2020.
This is the largest portion yet of Ford Ranch authorized for sale by the City.
More: San Angelo negotiates 50-year contract to buy 1.6 billion more gallons of water per year
Ford Ranch is a property in Melvin roughly 11 miles outside Brady and included 32,841 acres when acquired by the City. The ranch was purchased by the City for about $44 million or $1,350 an acre.
Earlier in September, City Council authorized the City to negotiate a sale of 2,830 acres of the Ford Ranch – marketed as the Lightener Tract – for a price no less than $1,400 per acre to Neil Tinsley.
In July 2020, the City was authorized to negotiate the sale of about 575 acres of Ford Ranch for a price no less than $1,950 per acre to Adam and Kimberly Ellisor.
The City also accepted a contract in June 2020 for a future sale of 324 acres of Ford Ranch – marketed as the Ford Ranch Farm – for no less than $450,000 or $1,385 per acre to a neighboring property owner. In March 2020, the City announced the sale of 864 acres in the southeast corner of the ranch to Riverbend, Texas, LLC and High Point Ranch Expansion, LLC. The purchased land is in the southeast corner of the property.
More: City of San Angelo negotiates sale of another portion of Ford Ranch
In November 2016, the San Angelo City Council approved the purchase of the ranch, from which the City pumps water from the Hickory Aquifer. Once the ranch was marketed for purchase, the Council determined that buying the property was the surest avenue for protecting San Angelo’s stake in the Hickory, along with the $120-million investment made developing the aquifer as a source of drinking water.
More than 20,000 acres of the ranch remain for sale.
For more information or any inquiries about purchasing land at the Ford Ranch, please contact James King at [email protected] or 432-386-2821.
View Ford Ranch real estate listing at kinglandwater.com/properties/ford-ranch
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