A North Texas developer plans to bring a 10,000-home community to northern McKinney. The 1,800-acre area will feature single-family homes, large-family homes and much more.
According to The Dallas Morning News, the Dallas-based Republic Property Group presented a proposal to the McKinney City Council for Honey Creek, a property west of Highway 75 and next to the near future U.S. Route 380 bypass. The proposed development would include 1,800 acres of new homes, commercial space, office space and park space.
The new Honey Creek development community would offer a variety of homes and complexes in all price ranges, from large and small single-family homes to townhomes, cottages and multi-sized apartments. The plan also shows amenities that would also be offered in the community such as a gym, pool, park space and other activities. Developer, Republic Property, estimates the proposed development would allow for more than $2 billion in taxable value.
“Communities of this nature are complex and take a long time to come to fruition,” the company said in a statement. “Republic Property Group believes in the future growth and demand for homes in DFW and McKinney.”
The development group hopes to make the community a municipal management district for the site, in which the district is primarily controlled by a district board rather than the city of McKinney. This would also finance infrastructure, services and neighborhood amenities through assessments and taxes.
In 2017, Creu Capital proposed a $300 million development for the Honey Creek site with the developer Sanchez Advisory Group. It was first pitched to Amazon as a second headquarters space that same year, but Amazon decided on Arlington, Va for its new location.
Republic Property is well known in North Texas for its successful development of the 7,200-acre Walsh community near Fort Worth and the 1,000-acre Light Farms in Celina.