A
new master-planned community, Terra Nova, is being planned for Kaufman County by Plano-based Main Square Development. The development will span over 1,500 acres in Terrell along Griffith Road and County Road 245, featuring a mix of single-family homes, apartments, and attached units. Home prices are expected to range from $400,000 to $1.2 million, with lots averaging around 50 feet wide and priced at $110,000.

    The community will include 332 acres of parks and open space, as well as commercial areas and a mixed-use district called Terra Nova Village. Main Square's president, Hugo Morales, estimates the project's assessed taxable value at $1.2 billion and plans to invest $134 million in infrastructure and amenities over the next 16 years.

    Construction is expected to begin later this year, with residential work starting first. The development will be built in multiple phases, with the first phase featuring over 200 lots along Griffith Road. Morales aims to make Terra Nova a catalyst for further growth in Terrell, which he believes has reached its limit in terms of high-end housing opportunities.

    Main Square is also eyeing other markets, including Cedar Hill and Sherman, where it owns significant land holdings. Morales sees Kaufman County as an attractive alternative to the increasingly expensive northern Dallas-Fort Worth market, with its population growing at a rate of 6% over the past year.