D-FW suburb Colleyville is hoping a recent land deal will result in a retail center. The town of just over 20,000 sold some city land to developer Woodmont. Woodmont is expecting to cruise through the entitlement project that will allow them to build retail stores and restaurants.

The Woodmont Company is a Fort Worth-based commercial real estate developer. They purchased about 6 acres of land located at the southeast corner of Hwy. 26 and Acuff Lane.

The city purchased the property in 2021 for about $2.55 million. The city’s agreement with Woodmont Co. was for $3.25 million. Once under contract, Woodmont will begin working with the city for entitlement approvals, and the transaction will likely close this summer. They have over a dozen retail centers in the DFW area.

The property previously had been a. white steel buildings that housed a scooter manufacturer. Before selling the land, the city demolished the buildings for $80,000.