Apartment builders are headed north to Grayson County’s Sherman-Denison area
Published: Sat, 11/11/23
Apartment builders are headed north to Grayson County’s Sherman-Denison area
With thousands of jobs coming at new semiconductor plants, new rental units are going up.
Chip plants under construction are bringing thousands of new jobs to Grayson County.
(Juan Figueroa / Staff Photographer)
By Steve Brown
November 10, 2023
With more than 72,000 rental units under construction, North Texas leads the country in apartment construction.
One of the biggest building booms is about an hour north of Dallas in the Sherman-Denison area of Grayson County.
“Sherman-Denison has 1,700 units currently underway,” said Carl Whitaker, an economist with Richardson-based RealPage. “On existing stock basis, that’s equal to 33% of all existing units.”By comparison, the almost 27,000 apartments that are opening in Dallas-Fort Worth this year will only add about 3% to the apartment inventory.
Real estate activity in Grayson County has boomed since tech firms started work on billions of dollars in semiconductor plants in Sherman.
The manufacturing facilities being built by Dallas-based Texas Instruments and Taiwanese-owned GlobiTech are bringing thousands of high-paying jobs to the area.
Whitaker said the apartments being built in Sherman-Denison are in eight projects.
“There are a few more that are planned in the metro area, too, but some of those may not come to fruition,” he said. “It’s really incredible to see that growth happening along U.S. 75.”