Late last week, the Waco Tribune-Herald reported that Magnolia Realty , Chip and Joanna Gaines' real estate firm purchased Cottonland Castle, a historic home in the Castle Heights neighborhood of Waco, construction on which began way back in 1890. A representative for Chip and Joanna confirmed the purchase in an email to Refinery29 today. "For nearly two decades, Chip and Joanna have admired the property as a hallmark of the Castle Heights neighborhood — they’ve even made past attempts to purchase it. The property is an iconic piece of Waco’s history and while specific plans have not yet been determined, one thing is for certain: their efforts will focus on fully completing the home’s long overdue and well-deserved restoration," the rep wrote. Though the price paid by the couple to purchase Cottonland Castle has not been disclosed, Realtor.com estimates its value at $482,900.