Bonham, a small town in Fannin County, Texas, is preparing for significant growth with the planned development of Powder Creek Ranch, a 400-acre master-planned community. The project, led by Dallas-based Sanchez & Associates, will bring about 3,000 new homes to the area and marks the largest development in Bonham’s history.
Powder Creek Ranch will be located near State Highways 121 and 56. According to Sanchez & Associates, the project will be completed in seven phases through 2035. Housing options will include single-family homes, townhomes, build-to-rent units, and multifamily residences. The plan also features commercial spaces for retail, dining, and offices. Parks and trails are included to maintain Bonham’s traditional character.
Infrastructure work has started for the first phase on 73 acres. Construction is expected to begin in late 2026 and will include 205 single-family homes and 350 build-to-rent units. Rents for these units are projected between $1,200 and $2,200 per month. Zillow reports that Bonham’s average home value is about $227,300—lower than nearby Sherman and significantly less than McKinney or Frisco.
The relative affordability of housing in Bonham has made it attractive to younger buyers and renters who are priced out of other North Texas cities. Growth in employment centers such as Sherman and northern Collin County has contributed to this 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,” said William Myers, economic development director for the city.
To support infrastructure needs for the long-term project, the Bonham City Council approved its first public improvement district last fall. J. Martin Sanchez, CEO of Sanchez & Associates, stated: “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 about 10,500 residents and is one of Texas’ oldest towns. Its history dates back to an 1837 frontier blockhouse called Fort Inglish. The site chosen for Powder Creek Ranch was once part of a ranch owned by Joe Kirkpatrick—a World War II veteran known for founding Cisco Boots—which Sanchez says will influence aspects of the community’s design.
