A residential development aimed at aviators hoping to live near Sherman Municipal Airport could be one step closer to fruition. The Sherman City Council will consider a land swap and special warranty deed for property on the southern border of the proposed development in exchange for nearly nine acres of airport land near the 1700 block of South Gribble Street.

“Essentially, we’re swapping right-of-way on the south side of their property for an empty piece of the airport grounds,” said Nate Strauch, community and support services manager for Sherman.

In May, developers announced plans for Silver Falcon Aero Estates — a 24-acre gated community marketed toward aviation enthusiasts that would feature residences with attached hangars directly adjacent to the airport. Plans for the development featured a mixture of 50 townhouse and condo-style residences with a community center and pool area.

As development progressed, city officials determined that there was a conflict with the city’s thoroughfare plan, which called for an extension of Lake Street to Highway 11. In order to make this roadway connection possible, the city would need enough land on the south side of the proposed development that it was deemed impractical.

As an alternative, the city proposed that the developer would give the city the right of way for the roadway and nearly $107,000 in exchange for nearly nine acres of adjacent land within the foot print of the airport. This would offset the impact of the road and allow developers to continue with the residential development, Strauch said.

This property was originally dedicated to the construction of another runway at the airport, but this project never occurred. Currently, the property is undeveloped and not on the city’s tax rolls.

Monday’s city council meeting will see several items directly related to the ongoing and future development of the airport. The council will consider the first amendment to the Sherman Municipal Airport ordinance since 1991. The amendment would allow for through-the-fence access for developments like Silver Falcon Estates outside the footprint of the airport.

The council is also expected to call for the reestablishment of the airport advisory board, which was disbanded in 2012 as the city explored alternative uses for the airport property.