Texas Instruments is fueling a regional land rush in the Sherman area.
Developer Cope Equities is moving forward on Jamestown Square, a $250 million mixed-use development designed to serve the incoming workforce at Texas Instruments’ massive $30 billion semiconductor expansion in Sherman, the Dallas Business Journal reported.
The 53-acre project, on U.S. Highway 75 across from TI’s site, will feature 21 acres of single-family homes, 15 acres of commercial space, 12 acres of multifamily and 6 acres of townhomes.
Infrastructure work is expected to wrap up this month.
The first phases — including commercial frontage, townhomes and apartments — should be completed in two to three years, Cope Equities CEO Stephen Cope told the outlet. The project’s later phases will add apartments or built-to-rent multifamily over the next three to five years.
The developer has a letter of intent with a hotel developer and is in talks with several retailers and restaurant operators for the commercial portion, Cope said. A 174-unit multifamily complex is already under construction, and Cope has sold 56 lots to Amberwood Duplexes LLC for townhome development.
Jamestown Square is rising alongside one of Texas’ most significant industrial expansions.
Texas Instruments is nearly finished with the first of four planned 1.5 million-square-foot semiconductor wafer fabrication plants, an investment expected to create up to 3,000 local jobs. Just north, Taiwanese firm GlobalWafers is constructing its own $5 billion silicon wafer manufacturing facility.
Sherman officials have committed millions of dollars to infrastructure upgrades to support the industrial boom projected to drive major population and commercial growth.
Grayson County’s population rose 13 percent between 2010 and 2020, Census data shows. The Texas Water Development Board estimates it will grow from 136,000 residents in 2020 to over 148,000 by 2030. Some projections have growth pushing past 250,000 by 2060.
Part of Sherman’s appeal stems from its access to abundant water rights at Lake Texoma, a critical advantage as water access becomes increasingly competitive for master-planned developments across North Texas, according to Bisnow. Developers are also eyeing the area ahead of a potential Dallas North Tollway expansion into Grayson County, fueling a broader land rush in the Texoma region.
— Judah Duke
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