Denison signs early agreements for 118-acre development
Developers and the city of Denison are taking the first steps to plan for new mixed-use development along U.S. Highway 75.
The Denison City Council recently approved a planning agreement with Podolsky Properties related to a proposed 118-acre development on the southwest corner of the U.S. Highway 75 and Stafford Drive intersection. Developers for the project said it will likely involve a mixture of residential and commercial uses along the U.S. 75 corridor.
“It is in the very beginning phases,” said Josh Holley, representing Podolsky Properties, LLC. “It will have some residential and some other types of use, but as of now it we are at the very beginning phases of development.
The agreement between the city and developers relates to city planning for the project, which will be financed by the developers. The city will need to determine infrastructure needs for the area, including water sewer and road access.
“As part of their planning process, it is also necessary for the city to do some planning in terms of where road connections are going to be throughout the development and into our thoroughfare plan,” City Manager Jud Rex said.
As a part of the agreement, Podolsky Properties will put $10,000 into an account for the city to pay for planning and consulting services related to the design. When the account balance drops below $2,000, the developer will deposit another $5,000, with this process repeating until the plans are done.
Rex said he was unsure of the cost for planning, but said he expected it to go over the initial $10,000.
The city is enthusiastic about the potential of the project, Rex said, comparing it favorably to Gateway Village and other significant developments within the city.
“The location is excellent from an accessibility standpoint,” Rex said. “It isn’t as big as Gateway Village, but our expectations for this development are similar: high-quality residential and high-quality commercial development.”
Holley mirrored this sentiment, stating that the city has done a lot in recent years to improve. These efforts include the Gateway Village Development and neighboring Texoma Health Foundation Park.
“We love this location just due to Denison taking the proper steps to improve the city and we want to be a part of that. With Gateway Village, THF and Loy Lake Park being right there, it has a lot to offer families,” he said.
Holley said no official name for the development has been given at the time, but noted the site’s proximity to Loy Lake.
Developers should start moving dirt of the site some time in 2021, Holley said.
Michael Hutchins is the local government reporter for the Herald Democrat. He can be reached at firstname.lastname@example.org.