Bonham, a town in Fannin County known for its frontier history, is preparing for significant residential growth with the announcement of Powder Creek Ranch, a master-planned community that will add 3,000 homes to the area. The development will be located on a 400-acre site near State Highways 121 and 56, about 70 miles from downtown Dallas.
Sanchez & Associates, based in Dallas, plans to build the project in seven phases through 2035. The community will include single-family homes, townhomes, build-to-rent units, multifamily residences, and commercial spaces for retail, dining, and offices. Parks and trails are also planned to maintain Bonham’s small-town atmosphere.
Infrastructure design has begun for the first phase covering 73 acres. Construction is expected to start in late 2026. This initial stage will provide 205 single-family homes and 350 build-to-rent units with rents ranging from $1,200 to $2,200 per month. According to Zillow data cited by developers, Bonham’s average home value is about $227,300—lower than nearby Sherman and significantly less than McKinney or Frisco.
The affordability of housing in Bonham has attracted younger buyers and renters who have been priced out of more central parts of Dallas. The proximity to growing job centers in Sherman and northern Collin County adds to the area’s appeal.
William Myers, Bonham’s economic development director, commented on the trend: “With the tech boom happening in nearby Grayson County and continued growth into northern Collin County, Bonham continues to see increased attention from developers and employers.”
To support infrastructure needs for this decade-long project, the Bonham City Council approved its first public improvement district last fall. J. Martin Sanchez, CEO of Sanchez & Associates said: “The project aims to honor the city’s heritage while meeting the needs of ‘future residents seeking attainable housing in the North Texas growth corridor.’”
Bonham has a population of about 10,500 people and traces its roots back to an 1837 frontier blockhouse called Fort Inglish. The Powder Creek Ranch site was previously part of a ranch owned by Joe Kirkpatrick—a World War II veteran and founder of Cisco Boots—which will influence aspects of the new community’s design.
