By Mitchell Parton
Hundreds of homes are on the way about an hour north of Dallas, close to where Texas Instruments broke ground last month on a massive semiconductor production campus that could bring thousands of new residents to the region.
Covenant Development is planning 750 single-family homes in Heritage Ranch, a 440-acre mixed-use community in Sherman, the company said Monday.
The residential portion of the development will span 171 acres and include homes built by Highland Homes and K. Hovnanian Homes as well as parks and trails.
Home construction will kick off in early 2023, with homes expected to be available later in the year. They will include 40-, 50-, and 60-foot lots.
Covenant, based in Sherman, is working with Frisco land developer Rockhill Capital & Investments on the deal.
“We’re excited to partner with the veteran team at Rockhill to oversee this residential section of the master plan,” Ryan Johnson, president of Covenant Development, said in a statement. “Heritage Ranch will set a new bar for Sherman and offer a truly unique community for future residents.”
Heritage Ranch is also set to include commercial, retail, hospitality and office space. The site is less than a mile west of U.S. Highway 75 at the intersection of FM1417 and U.S. Highway 82.
The Texas Instruments plant is about 11 miles south. The estimated $30 billion investment is projected to ultimately create 3,000 jobs, and residential developers have flocked to the area in response.