Gateway Village Housing Construction Set to Begin

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From KXII Story:

DENISON, Texas — A $500 million property development is about to break ground in Denison, and housing plans were unveiled Thursday.

 

The 700 acre master plan community, known as Gateway Village, will be located at Loy Lake Road and Seymour Bradley, near Texoma Medical Center. “We felt the demand primarily because of the growth of the hospital,” Tom Johnson, Covenant Development Partners president, said. “The hospital has been instrumental in recruiting physicians in the community that haven’t been able to find a place to live.”

Johnson said home construction is slated to begin next month.

Johnson said Gateway Village will be made up of more than 500 houses — 55 of them high-end homes costing from $500,000 to $1 million each. The other 450 homes would probably be in the $250,000 range.

Construction is already underway. in building a brand new community that will feature its own retail shopping, dining, entertainment, and possibly a water park.

Johnson said the plan is to sell the lots to builders like Jason Sofey.

Sofey said this community should be a big draw to Texoma. “We’ve been losing a lot of potential homebuyers to the Metroplex because there wasn’t a development like this, and if we can keep those people here we’re going to keep those property tax dollars here and also keep local construction people working,” Sofey said.

Denison Realtors are also excited about the housing development. “We have more and more people moving to this area so it’s nice to give them options as far as new home construction,” Ben Vincent of the Greater Texoma Association of Realtors said.

Johnson says he hopes to have Gateway Village completely finished by 2020.

Read the original story from KXII:

http://www.kxii.com/home/headlines/Construction-to-begin-on-half-billion-dollar-Denison-development-284824451.html

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Call 903.893.8500 for more up to date information regarding the development.

Investors are welcome.