June's Luxury Market Report
Terra Nova: A $1.2 Billion Master-Planned Community Is Coming to Terrell, Texas A bold new vision is unfolding in Kaufman County — and it’s set to reshape the future of Terrell. Terra Nova, a master-planned community proposed by Plano-based Main Square Development, is slated to bring over 3,400 single-family homes, 1,200 apartments, and 261 attached fourplex units to more than 1,500 acres of land near Griffith Road and County Road 245. This marks the company’s first large-scale development — and one of the most ambitious residential projects announced in North Texas in recent years. ๐ก What to Expect from Terra Nova Home prices ranging from $400,000 to $1.2 million Lot sizes starting at 50 feet, averaging $110,000 per lot Over 332 acres of parks and open green space 47-acre mixed-use hub called Terra Nova Village 100 acres set aside for commercial development Terra Nova isn’t just about housing — it’s about creating a lifestyle. With planned investment in trails, public spaces, and road infrastructure, the development is designed to offer residents a modern, walkable community with access to both nature and amenities. ๐ฑ Designed for Growth According to Main Square president Hugo Morales, the total investment in the project will exceed $134 million — including $110 million in roads and trails and $24 million for parks and recreation. The phased construction will begin later this year, starting with over 200 homes along Griffith Road and critical roadwork. The full build-out may take up to 16 years, with an estimated assessed taxable value of $1.2 billion. As prices continue to climb in North D-FW suburbs like Frisco and Prosper, buyers are looking east — and Terrell is quickly becoming a hotspot. “There’s only so many million-dollar houses you can sell in D-FW,” Morales explained. “The sweet spot is $400,000 to $700,000 — and the north is just kind of running out of opportunities.” ๐ Why Terrell? Second-fastest-growing county in the U.S. (among counties over 20,000 residents) Population growth of 6% from 2023 to 2024 Strategic location with access to I-20 and Hwy 80 New schools, job opportunities, and lifestyle destinations on the horizon ๏ปฟ ๐ A Catalyst for the Future With its scale and vision, Terra Nova is positioned to become the spark for even more development in the region — bringing not just homes, but a long-term boost to the local economy, infrastructure, and lifestyle offerings. Main Square Development also owns land in Cedar Hill and is eyeing Sherman as its next frontier. But it all starts here. “We think this project opens the door for Terrell to make that leap to a great community,” Morales said. ๐ Thinking of buying a new construction home in one of D-FW’s fastest-growing areas? Let’s talk! I can help you explore opportunities in Terra Nova and beyond — before the market heats up.
