The TI effect: 54-acre development wants space in South Sherman
As Texas Instruments considers expanding its Sherman facility, a developer is eyeing nearby property for a new mixed-use development in the 6000- 6400 blocks of Akers road and 100-200 block of South US Highway 75.
The development, which will feature a mixture of retail, commercial and residential uses, will sit just across the highway from where Texas Instruments is proposing to build a $29.4 billion phased expansion of its facilities.
The Sherman Planning and Zoning Commission recently approved zoning changes for a new 54-acre mixed use development located near the intersection of U.S. Highway 75 and Akers Road.
"I know you guys are entertaining development with TI expanding and stuff like that," said Todd Downing who represented the developers. "We feel like this is something you can offer to TI because we are real close and have other facilities to help service their employees."
The development, which is being led by Cope Equities and Jamestown Square, LLC, will be comprised of three separate tracks of land in the 6000 through 6400 blocks of U.S. Hwy. 75 and 100 and 200 blocks of Akers Road.
The first tract will focus on commercial and retail uses, with plans presented for several buildings across 14.95 acres. The first lot would include a total of 70,000 square-feet of commercial space across four buildings. The second and third lots would feature 8,604 square-feet of space for commercial and quick serve retail space, respectively. The final lot on the track will feature 4,694 feet of quick serve retail space.
During discussions with planning and zoning commission, representatives for the project mentioned possible restaurant tenants for this portion of the project.
The second tract will focus primarily on residential with a mixture of multi-family and townhome developments. This will include a three-story apartment complex with 168 units, another multi-family development with 138 units, a smaller 26-unit multi-family building and a 52 townhome development.
The final 20.23 acres will focus exclusively on single-family development with 62 new homes.
When asked by members of the commission for his opinion on the project, Development Services Director Rob Rae said the city had no strong opinion, but noted that commercial use seemed like an appropriate zoning for the land given the lack of commercial users in the area.
Despite this, some members of the commission voiced concern for the project, noting the lack of neighboring development and access issues. Ultimately the commission approved the project unanimously.