Holley Homes has nine new duplexes coming to Sherman in the next few months. Four are currently under construction on Throckmorton and Carter.
Josh Holley, an investor with roughly 100 properties in the Sherman-Denison area, said part of his motivation was to help revitalize the area.
“The area is up and coming,” Holley said. “… With Finisar and some of these other companies coming to town the market is solid and moving upward.”
He said his plan was to complete construction on all nine units by the end of the year.
“The city has been great to work with. We’re excited to be a part of the growth of Sherman and Denison,” Holley said.
Nate Strauch, community and support services manager for the city of Sherman, said the city has implemented several programs to assist developers in building new housing options in this part of town. He said one of their programs is to help demolish sub-standard structures to make room for new developments.
“Multi-family housing is at or near capacity for several years If we can get housing in at the lower price point it is something the city needs right now,” Strauch said.
He said apartment housing in the city was about 97 percent capacity.
The duplexes Holley is developing will be roughly 2900 square feet total with each individual unit being 1250 square feet, not counting the garage.
He will be selling the properties individually to potential buyers. He will recommend a base rental rate of around $1,300 per unit. He said that is based on comparable sized rentals in Denison without a garage. He said they could go higher depending on the buyer.
They will be 3 bedroom, two bathroom units featuring stainless steel appliances, privacy fences, granite counter tops and spray foam.
Hollie said he is making little design touches to each location to ensure potential buyers get a unique home. The floor plans are nearly identical to the buildings with the biggest difference being the ones with stackable washer and dryer units verses side by side units.
Each unit will have its own garage and drive way.
He said he is doing his best to get them built as quickly as possible, although there are a few things beyond his control. He pointed to a power line sitting in the middle of a segment where he hopes to put a driveway.
One of the little touches he chose was to use spray foam for insulation. He said while it does cost more than other methods, with the structures right by the railroad he wanted to help provide a little extra sound barrier for the future residents.
The construction on the first four units began in late May. Hollie believes those initial duplexes should be completed by mid- to late-August. He is hoping that if everything goes well the remaining five will be completed this year.