McKinney Okays Start of Huge New Residential Community

McKinney has approved the first phase of a $300 million community that could have as many as 6,000 homes.The 2,100-acre Cross F Ranch is planned north of McKinney on U.S. Highway 75 near Hardin Boulevard.The proposed development would also have apartments, retail and commercial development.Developers Sanchez Advisory Group and Creu Capital plan to start the first 313-acre phase of development later this year.The initial phase will be for 1,400 homes available starting next year."The approval of the preliminary final plat for the first phase of the Cross F Ranch is an important first step toward breaking ground on the 2,100 acre master-planned community within the city's largely untouched northwest sector," Tyler Scott, project manager at the Sanchez Group, said in a statement.The Cross F Ranch development could eventually be home 30,000 people according to the developers.The residential project has been in the works for several years.The proposed residential development is in an area already seeing significant homebuilding and construction.The nearby Trinity Falls community has more than 500 homeowners.And hundreds of houses are being built in nearby Anna and Melissa.The Sanchez Advisory Group is headed by J. Martin Sanchez and is based in McKinney.Creu Capital is a private equity real estate investor that develops and invests in large tracts of land. It's principal is Santiago Jorba, whose family owns Mexico-based Bimbo Bakeries.  Continue reading...

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