By Spencer Brewer
A new 440-acre mixed-use, master-planned community is headed to Sherman and will contain 750 homes by the time the dust clears.
Covenant Development, in partnership with Rockhill Capital & Investments, is planning the project, called Heritage Ranch. The development is located at the intersection of FM 1417 and U.S. Highway 82.
Heritage Ranch will feature homes by Highland Homes and K. Hovnanian Homes and include a variety of styles and lot sizes, along with amenities like parks and trails. Homes are expected to become available starting in late 2023 to early 2024, according to a news release.
Heritage Ranch will include a mix of commercial, retail, hospitality and office space as well as a proposed entertainment district.
“We’re excited to partner with the veteran team at Rockhill to oversee this residential section of the master plan,” said Ryan Johnson, president of Covenant Development, in a prepared statement. “Heritage Ranch will set a new bar for Sherman, and offer a truly unique community for future residents.”
The residential area encompasses approximately 171 acres and will be built in four phases with home lots ranging from 40’ x 120’, 50’ x 120’ and 60’ x 120’.
“Covenant has worked hard to put together a comprehensive vision for Heritage Ranch, and we’re excited to be a part of it,” said Ryan Griffin, managing partner at Rockhill Capital & Investments, in a prepared statement. “Construction is underway and we’re looking forward to seeing this residential project come to life.”
Texas Instruments Inc. (Nasdaq: TXN) is making a near-$30 billion phased investment in Sherman, consisting of up to four semiconductor wafer fabrication plants and 3,000 jobs.