Terrell's $3B Terra Nova Gets Zoning Despite Local Concerns + DFW Ranks #1 U.S. Market for 2026

Author
Kirstine Openshaw

Hey, it's Kirstine Openshaw - still, as far as I know, the only Kirstine Openshaw in the Real Estate World! Here to break down the chaos into simple bit size nuggets & share what it means for you as a Homeowner, Home Buyer & Investor in our areas!

In today's newsletter:

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Terrell City Council grants zoning approval for Main Square Development's (Plano-based) Terra Nova master-planned community transforming 1,545 acres featuring 3,600 single-family homes, 1,200 multifamily units, 48-acre mixed-use Terra Nova Village in under 12 months from concept to zoning demonstrating East DFW municipality growth urgency, while local residents raise Highway 80 traffic capacity concerns and infrastructure readiness questions positioning Terrell as Eastern Dallas County growth alternative to saturated North DFW corridor. [Chron, Terrell City Council]

Project Scale:

Developer Profile:

Approval Timeline:

Terra Nova Village (Mixed-Use District):

Local Community Concerns:

Highway 80 Traffic Capacity:
4,800 units creating approximately 10,000-15,000 daily vehicle trips converging on Highway 80 (primary east-west corridor) already experiencing congestion during peak hours, while zoning approval lacking specific roadway improvement commitments or timelines creating legitimate questions about traffic mitigation sequencing relative to residential occupancy.

Infrastructure Readiness:
Rapid approval timeline (under 12 months) raising questions about water, sewer, school capacity planning depth contrasting typical multi-year studies for projects this scale, while Terrell's existing infrastructure serving 19,000 current residents suddenly accommodating 10,000+ new residents (4,800 units x 2-3 persons average) representing 50%+ population increase potentially overwhelming systems without significant upfront investment.

Why Approval Happened Anyway:
Terrell City Council's speed signals economic development priority where $3B private investment, construction employment, property tax base expansion, and retail sales tax revenue justify infrastructure investment risks, while North DFW growth saturation (Frisco, McKinney, Prosper land constraints) pushes developers seeking large-scale tracts eastward where land availability and municipal enthusiasm converge despite infrastructure gaps.

Why It's Strategic: Terrell's Terra Nova approval—1,545 acres with 4,800 units in under 12 months concept-to-zoning—demonstrates East DFW municipalities recognizing North corridor growth saturation (Frisco-McKinney-Prosper land constraints, higher costs) creates opportunity for Eastern Dallas County positioning as affordable alternative capturing buyers priced out of established master-planned communities, while Main Square Development's Plano base signals established North Texas developer conviction that Terrell supports large-scale absorption despite current 19,000 population and Highway 80 infrastructure concerns. The 48-acre Terra Nova Village mixed-use component creates retail-dining-services within community reducing external trip generation (versus bedroom community model requiring external commutes for all services), while $3B investment represents municipal economic development priority justifying infrastructure catch-up spending through property tax base expansion and sales tax revenue generation. However, legitimate local concerns about Highway 80 capacity and under-12-month approval timeline reflect pattern where rapid growth overwhelms existing systems requiring expensive reactive improvements versus proactive planning, creating resident tax burden questions about who funds infrastructure—new development through MUD districts or existing residents through rate increases.

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Dallas-Fort Worth secures top national ranking in Urban Land Institute and PwC's Emerging Trends in Real Estate 2026 report citing 100 headquarters relocations since 2018, $1.5 trillion public company valuation, AI data center momentum, and "Y'all Street" financial district emergence (Goldman Sachs, NYSE, Nasdaq, Texas Stock Exchange) positioning region as safest, strongest opportunity market despite 27.6% office vacancy demonstrating flight-to-quality demand and diverse economy attracting talent contrasting single-sector concentration risks. [Urban Land Institute, PwC, Dallas Business Journal]

#1 Ranking Factors:

Corporate Relocations:

AI and Data Center Growth:

Financial District Emergence:

Workforce Demographics:

Market Resilience Indicators:

Office Market Reality:

Construction Activity:

Economic Diversification:

Why #1 Despite Challenges:

Report acknowledging 27.6% office vacancy and high interest rates but emphasizing long-term fundamentals (population growth, job creation, corporate relocations, AI infrastructure) outweigh near-term headwinds, positioning DFW as "safest bet" where diverse economy and continued in-migration provide downside protection contrasting single-sector markets vulnerable to industry-specific downturns.

What This Means for Homeowners:

#1 national ranking validates property value stability where corporate relocations create sustained housing demand, while AI data center employment (Stargate Abilene, regional buildout) and financial district emergence ("Y'all Street") diversify job base reducing recession vulnerability, supporting long-term appreciation thesis despite near-term rate environment creating affordability challenges for entry-level buyers.

Why It Matters: DFW's #1 U.S. market ranking—surpassing traditional leaders—demonstrates Urban Land Institute and PwC recognition that corporate relocations (100 HQs since 2018), AI infrastructure investment (data centers, energy capacity), and financial services concentration ("Y'all Street" emergence) create economic foundation outweighing office vacancy concerns (27.6%) and interest rate headwinds, while $1.5 trillion public company valuation validates executive and employee in-migration supporting sustained housing demand. The diverse economy emphasis (technology, healthcare, financial services, energy transition versus single-sector dependency) provides recession resilience where no individual industry downturn threatens overall market stability, contrasting coastal markets with tech concentration vulnerabilities or energy-dependent regions facing transition risks. However, 27.6% office vacancy demonstrates work-from-home permanence requiring adaptive reuse strategies (office-to-residential conversions) and flight-to-quality dynamics where Class A space maintains demand while commodity office struggles, creating bifurcated commercial market paralleling residential luxury-versus-affordable split seen in November-December sales data.

What does this growth mean for our communities & the Real Estate Markets?

New Listings: 549 Homes | AVG $494,980
Closed Sales: 304 Homes | AVG $461,721 | 99.6% of asking
*Off Market NOT Sold: 226 Homes | AVG $368,854

New Listings: 117 Homes | AVG $570,724
Closed Sales: 49 Homes | AVG $520,711 | 97.8% of asking price price

New Listings: 700 Homes | AVG $610,530
Closed Sales: 305 Homes | AVG $505,859 | 96.7% of asking price price

Tarrant County's 99.6% Breakthrough:
This is the highest sale-to-list ratio we've seen in over a year. Homes are closing at essentially full asking price ($461K average), while off-market failures dropped to just 226 homes (down from 581 two weeks ago) averaging $368K—only 20% below closed sales versus the previous 46% gap.

Translation: The overpricing crisis just ended. Sellers finally adjusted expectations, buyers responded, and the market found equilibrium. You're now paying 99.6% of asking—negotiate on inspection items, not price.

But Here's the Speed Problem:
103 days on market means Tarrant homes are taking 3.5 months to close (up from 57 days in November). Even with 99.6% of asking, properties are sitting longer. Why? Higher interest rates (6.15%) are slowing buyer urgency despite fair pricing.

Dallas County Moves Fastest:
80 days on market (23% faster than Tarrant's 103) despite lower 96.7% sale-to-list ratio shows urban core buyers willing to negotiate price but demanding speed. Dallas's 700 new listings versus 305 closings creates inventory buildup (2.3:1 ratio) giving buyers leverage on price while accepting faster timelines.

Parker County's Extended Timeline:
142 days (nearly 5 months) demonstrates outer-county trade-off: pay 97.8% of asking but wait significantly longer. At $520K average closings, Parker sits between Tarrant ($461K) and Dallas ($505K) price-wise but takes longest to sell, reflecting buyer pool seeking value over convenience.

The Inventory Math:

What DFW's #1 Ranking Means:
Urban Land Institute's top national spot validates long-term appreciation thesis (corporate relocations, AI infrastructure, financial district) but doesn't override near-term reality: properties taking 80-142 days to sell despite fair pricing shows high interest rates (6.15%) slowing buyer urgency even in #1 market.

Bottom Line:

If you're selling:

If you're buying:

The Terrell Factor:
Terra Nova's 4,800 units east of Dallas creates future inventory pressure as buyers seeking affordability consider Eastern Dallas County alternatives to saturated North DFW corridor (Frisco-McKinney-Prosper) and pricier Tarrant-Dallas markets, potentially softening demand in established areas as 2027-2028 deliveries begin.

What's Happening This Weekend:

🎭 Friday, Jan 16
Live Music & Comedy | Various Venues | Fort Worth
Bass Performance Hall Events | Downtown Fort Worth

🏀 Saturday, Jan 17
TCU Basketball | TCU Campus | Fort Worth
Fort Worth Stock Show & Rodeo | Will Rogers Memorial Center | Fort Worth

🤠 Sunday, Jan 18
Fort Worth Stock Show & Rodeo (continues) | Will Rogers Memorial Center | Fort Worth
Sunday Brunch Spots | Sundance Square | Fort Worth

🌆 Anytime This Weekend
Fort Worth Stockyards | Fort Worth
Kimbell Art Museum | Fort Worth
Fort Worth Zoo | Fort Worth
Panther Island Brewing | Fort Worth
Magnolia Avenue District | Fort Worth

For full event details, ticket prices, and our top weekend picks, check your inbox Thursday for our Fort Worth Weekend Guide + this week's Deal of the Week property feature.

Custom KW Build on 7 Unrestricted Acres
Peaster ISD | Under 1 Hour from Fort Worth

What You Get: ✅ Custom KW build (NOT a spec home)
✅ 7 acres with NO restrictions
✅ 3-stall horse barn with runs + power
✅ 30x20 metal workshop on concrete pad
✅ Huge 3-car garage
✅ Own well = $0 water bills forever
✅ NO city taxes = more money in YOUR pocket

Interior Highlights:

Why This Property Stands Out:

While Tarrant County buyers compete for tiny lots at $461K average (99.6% of asking, 103-day timeline), smart buyers are looking at properties like this: custom quality without the custom wait time, zero city taxes, unlimited well water, and genuine acreage freedom.

Market Context:

Parker County's 142-day average means properties take longer to sell, but this is move-in ready country living done RIGHT. At 97.8% of asking, Parker buyers pay fair prices for significantly more land, better quality builds, and lower ongoing costs (no city taxes, no water bills).

Perfect For:

💬 Reply "LAND" and I'll send you the full property details

Properties like this don't last long. And they don't come around often.

Homebuyers: Terrell's $3B Terra Nova (4,800 units) proves East DFW growth opportunities exist beyond saturated North corridor, while Tarrant's 99.6% sale-to-list ratio (highest in a year) means you're paying full asking price—negotiate inspection items and closing costs, not price, and use 103-day timeline to your advantage by being pre-approved and decisive when right property appears. DFW's #1 national ranking validates long-term appreciation thesis (corporate relocations, AI infrastructure) supporting purchase timing despite 6.15% rates creating affordability challenges.

Real Estate Investors: Tarrant's off-market failures dropped from 581 homes to just 226 (down 61%) with pricing gap shrinking from 46% to 20% demonstrates market correction creating fewer distressed opportunities, while Terrell Terra Nova's rapid approval (under 12 months) signals East DFW municipal growth urgency creating early positioning opportunities before 2027-2028 deliveries, and featured Peaster horse property demonstrates outer-county value where zero city taxes + own well + acreage freedom attract buyers seeking alternatives to urban density and HOA restrictions.

Sellers: Tarrant's 99.6% of asking proves realistic pricing wins—you're getting essentially full price ($461K average) but waiting 103 days (3.5 months) versus November's 57 days showing high rates (6.15%) slowing buyer urgency despite fair pricing. Dallas moves faster (80 days) but nets 96.7% of asking, while Parker takes longest (142 days) at 97.8% of asking. Choose your trade-off: speed (Dallas), price (Tarrant), or acreage premium (Parker).

Bottom line: Terrell's $3B Terra Nova approval in under 12 months demonstrates East DFW municipalities aggressively pursuing growth as North corridor saturates (Frisco-McKinney-Prosper land constraints), while DFW's #1 U.S. market ranking (Urban Land Institute) citing 100 corporate HQ relocations and "Y'all Street" financial district validates long-term appreciation fundamentals, as Tarrant County's 99.6% sale-to-list ratio (highest in a year) with 226 off-market failures (down 61% from 581) proves market correction where realistic pricing eliminates overpricing crisis but 103-day timeline (up from 57 days November) shows 6.15% rates slowing buyer urgency despite pricing equilibrium.

Ready to capitalize on Tarrant's 99.6% pricing equilibrium before spring competition drives multiple offers, or position in Terrell's East DFW growth corridor before Terra Nova's 2027 deliveries? Let's connect you with our partners who understand both market timing cycles and municipal growth approval patterns.

See you Thursday for Fort Worth Weekend Events (full details) + our Deal of the Week property feature!

Kirstine & Clive Openshaw
Fort Worth Pulse | Your Fort Worth Real Estate Team

[Schedule a call] with Kirstine Openshaw | Openshaw Realty Group

940-372-0044

What's Happening This Week:

What's Happening This Week:

Rates holding at 6.15% while Tarrant County just hit 99.6% sale-to-list ratio—the highest in over a year. This combination (fair pricing + stable rates) creates strategic entry points before spring competition arrives.

Translation: Sellers finally priced correctly. Buyers are paying full asking. Lock rates now while equilibrium exists.

Current Rates (National Average):

What You Should Know:

We close loans in two weeks or less (on qualifying programs), are experts with DSCR loans (Debt Service Coverage Ratio for Investment Properties), offer reverse mortgages for purchases and cash-out refinances, and have creative solutions including broker loans for buyers who might not qualify through traditional routes.

Why This Matters Now:

With Tarrant hitting 99.6% of asking (you're paying full price) but taking 103 days to close (3.5 months), pre-approval and fast financing gives you competitive advantage. A $461K Tarrant County home at 6.15% means $2,810/month (principal + interest). Lock now before rates shift or spring inventory crunch drives prices higher.

DFW's #1 Ranking Impact:

Urban Land Institute's top national spot validates long-term appreciation (corporate relocations, AI infrastructure, "Y'all Street" financial district) supporting financing confidence. Lenders recognize DFW's economic diversity reduces default risk, potentially improving loan terms for well-qualified buyers.

January Opportunity:

Tarrant: 99.6% of asking but 103-day timeline = negotiate closing costs, not price
Dallas: 96.7% of asking, 80-day faster timeline = price negotiation possible
Parker: 97.8% of asking, 142-day wait = maximize terms, accept timeline

Featured Property Context:

The 7-acre Peaster horse property with zero city taxes and own well demonstrates financing advantage: lower ongoing costs (no water bills, no city taxes) improve debt-to-income ratios, potentially qualifying buyers for higher loan amounts versus city properties with HOA dues + utilities + taxes consuming income.

Schedule a call now to talk with Clive Openshaw [Close with Clive - Schedule a Call]

Bottom Line: Start 2026 with 6.15% rates, Tarrant's 99.6% pricing equilibrium, and DFW's #1 national ranking validating long-term value. Whether you're buying in Tarrant's balanced market, Dallas's faster-moving core, or Parker's acreage properties—pre-approval and financing readiness matter more than ever when paying essentially full asking price.

Want to discuss your specific situation? Reply "CLOSE" to schedule a call with Clive Openshaw (NMLS #2639452), or let's explore what programs work for your timeline before rates shift. [Close with Clive - Schedule a Call]

See you next week,
Kirstine & Clive Openshaw