A new master-planned community has been given the green light in one of Texas’ fastest-growing regions, promising thousands of homes and a mix of retail, office, and recreational space over the next two decades.
The Terra Nova development, approved by the Terrell City Council, will span 1,545 acres near FM245 and Griffith Road, about 30 miles east of Dallas. It is being developed by Main Square Development with a projected total buildout value exceeding $3 billion.
Terra Nova will include 3,600 single-family homes, 1,200 multi-family units and a 48-acre mixed-use district called Terra Nova Village, which will feature more than 200,000 square feet of retail, dining and office space, centered around a main square. Main Square Development, the Plano-based firm behind the project, was founded in late 2023. Despite being a relatively new company, it quickly assembled 11 parcels of land and secured full zoning approval for the community. The firm is positioning itself as a major player in large-scale, master-planned developments, leveraging rapid approvals and strategic land acquisitions to capitalize on the growth of North Texas’ fast-expanding suburban counties. The master plan is set to unfold in 15 phases over roughly 20 years, with infrastructure and site development scheduled to begin immediately. Main Square Development assembled 11 properties and moved the project from concept to full zoning approval in less than a year. Terrell, home to over 21,000 residents, sits in Kaufman County, one of the fastest-growing counties in the country. According to the U.S. Census Bureau, Kaufman County posted the second-highest population growth rate in the nation between 2023 and 2024, reflecting a surge in demand for housing, retail, and office space. Terra Nova is expected to play a key role in shaping the county’s continued growth, offering new homes, jobs, and amenities to meet the needs of an expanding population.
Adding a little local flair, Terrell is also the hometown of Oscar-winning actor and singer Jamie Foxx, who received a key to the city and a welcome-home celebration in 2009. Foxx, born Eric Bishop, has said that his Terrell roots keep him grounded in a business that doesn’t always allow for that.
Original version appears in Chron.