A 2,100-acre, $300 million mixed-use development is coming to the northwest sector of McKinney.
The development, named Cross F Ranch, spans from Lake Forest Drive to US 75 near the future Laud Howell Parkway and Hardin Boulevard. The development will consist of commercial, retail and entertainment venues, according to a news release from Creu Capital.
Cross F Ranch will be built in phases with the first phase expected to open by the last quarter of 2018. This phase will include more than 250 acres of single-family residential units, commercial and retail development.
When complete, the development will be home to approximately 6,000 residential homes, 7,000 multifamily units and 4.7 million square feet of commercial, retail and office space, according to a video released by Creu Capital.
Creu Capital LLC, established April 1, is a private equity real estate firm managed by Santiago Jorba and J. Martin Sanchez of The Sanchez Advisory Group. Creu Capital is the largest single landowner in McKinney including Cross F Ranch, according to the release. Creu Capital also has holdings in Anna, Dallas, Fort Worth, Houston and Plano.
Jorba, Creu Capital’s CEO, is the grandson of Jaime Jorba Sr., a founder of Grupo Bimbo, a bakery company spanning 23 countries. One of Jorba Sr.’s first major investments in the early 1980s included the purchase and eventual sale of property along SH 121 between Lake Forest Drive and Custer Road that eventually became Craig Ranch.