Tuesday, H-E-B and the city of Sherman confirmed that the San Antonio-based grocer has purchased more than 20 acres of land in the South Sherman in the Sherman Crossroads planned development. That evening, Harkinson Investment Corporation provided additional information about the land sale and the future of the Crossroads development.
“Sherman Crossroads, Ltd. sold 23.86 acres of land to H-E-B on June 13th,” provided information said. “The parcel is located at the northwest corner of FM 1417 (Heritage Parkway) and Crossroads Blvd, near to Central Expressway in Sherman, TX.
“The sale comes after nearly three years of negotiations among H-E-B, the City of Sherman, and Harkinson Development, LLC, acting on behalf of the Sherman Crossroads partnership. The negotiations began under the administration of Sherman Mayor David Plyler and City Manager Robbie Hefton and were completed by new City Manager Zach Flores with the support of current Mayor Shawn Teamann and the Sherman City Council. The parties have executed a Site Development Agreement under which the City of Sherman will deploy more than $10 million in bond-funded infrastructure improvements to facilitate the future development of the H-E-B site.”
Improvements on the site are expected to be complete in two years. Those improvements include construction of Aston Drive from FM 1417 to Crossroads Boulevard, the extension of water, sewer and storm drainage utilities, installation of traffic signals at Aston Drive and FM 1417 and the importing fill material and rough grading to the site.
The existing 7-acre detention pond on the H-E-B site will be filled and a new wetland of approximately 2.5 acres will be created on nearby city land to meet U.S. Army Corps of Engineers mitigation requirements. Other improvements include the excavation of the new 12-acre Aston Pond north of Aston Drive, complete with landscaping, lighting, and a hiking trail, to serve as a public amenity while also providing for site-wide stormwater detention.
“The H-E-B site is at the center of activity in booming South Sherman,” the release continued. “It is located within sight of the new $5 billion Global Wafers chip factory on Heritage Parkway and 5 minutes north on US Highway 75 from the $30 billion Texas Instruments semiconductor plant now under construction, both of which have completed Phase I construction and are now operating. Sherman’s new $210-million high school is four minutes west of Sherman Crossroads on West Travis Street. Thousands of new homes are planned in the vicinity of the H-E-B site, including Bel Air Village, Sherman’s largest residential development, with 1,000 single-family and 2,000 multi-family homes to be located 3 minutes away on the east side of US Highway 75. If all the housing units in Sherman’s development pipeline get built, it is estimated that the city’s population will increase by 67,533 people, or 142%.”
H-E-B is integral to the Crossroads Development, the Harkinson release said.
“Sherman Crossroads previously sold a partial interest in the 45 acres on the north side of West Travis Street to a group of physicians for a medical district,” the release said. “That district now includes a free-standing Emergency Room, a 40,000 SF medical office building, a Divita dialysis center, an imaging center, and a proposed dual-branded Marriott hotel. Planning for a future acute care hospital is underway.”
Along with already announced retail and commercial businesses including QuikTrip, Whataburger, Braums, Chick-Fil-A, Chipotle, Starbucks, McDonalds, Panda Express, Domino’s and Taco Bell, there are plans to attract sit-down restaurants overlooking the pond and future entertainment and destination amenities.
“The Harkinson group of companies are engaged in 250-acres of greenfield development projects in the DFW area and Sherman,” the release said. “In addition, the companies own, manage and lease a portfolio of two million square feet of commercial income properties in Central and North Texas consisting of retail, industrial and office projects.”
Plans for the Sherman Crossroads development date back about 15 years.
“Harkinson founder and President, Jeff Harkinson, purchased the original 130 acres that would become Sherman Crossroads in 2011, when the land was still in agricultural use,” the release said. “Harkinson is expanding the size of Sherman Crossroads to a total of over 225 acres. He credits the leadership provided by the City Council and city management team for creating a public-private development agreement that helped fund the infrastructure improvements needed to make the project economically feasible and attract a who’s who of retail and commercial users. It was the first major commercial development in South Sherman and helped to further stimulate the additional residential, retail, commercial and industrial projects that have emerged on the south end of Sherman.”
“When I was a student at Austin College 55 years ago, I would drive by this property that was owned by Johnson & Johnson,” Harkinson said in the release. “Little could I imagine that years later I would lead a partnership to own and redevelop this site. It’s been the privilege of my life to work hand-in-glove with the City of Sherman to create a landmark project in memory of the Aston family.”
“We are very pleased and gratified that H-E-B chose to acquire this parcel at Sherman Crossroads,” Harkinson said. “This is yet another milestone for Sherman and confirms the importance of our project as retail destination for this dynamic and fast-growing part of town. Without the support of the City Council and its management team, this acquisition and the success of the Sherman Crossroads development would not have been possible.”
About Harkinson
Harkinson is a 1970 graduate of Austin College and his wife, Sarah Aston Harkinson, was born in Sherman, graduated from Sherman High School, and also graduated from Austin College. She is the daughter of the late RB and Martha Aston both of whom also graduated from Austin College. RB owned a grocery store downtown and later served as Director of Public Works for the City of Sherman. Martha Aston held a Master’s Degree and served as an English teacher at Sherman High School for 35 years.
Harkinson currently has a son, daughter and two sons-in-law engaged in the real estate business with him and hopes to create a legacy development that will endure in Sherman for generations to come. The H-E-B land sale is another milestone on that journey.
