Terrell City Council approved Main Square Development’s proposal to build Terra Nova, a $3 billion master-planned community near FM 245 and Griffith Road.
Plans for the 1,545-acre site feature both residential and mixed-use development, including 3,600 single-family homes, 1,200 multifamily units and 200,000 square feet of retail, restaurant and office space, plus 145 acres of parks and green spaces and 30 miles of hiking and biking trails. Development will play out in 15 phases spanning over 20 years.
“Terra Nova represents a new chapter for Terrell,” Main Square President Hugo Morales said in a press release. “We’re honored to partner with the city and community to create a place that brings quality housing, a focus on the outdoors and economic opportunity, while celebrating the values that make Terrell unique.”
Additional plans for the MPC include infrastructure improvements and space for fire and law enforcement facilities. Developers are also working with Terrell Independent School District to determine sites for elementary and middle schools.
Upon full buildout, the project is projected to generate over $80 million in property taxes annually.
Homebuilders will be announced early next year.