Aster Park
LOCATION: McKinney, TX
ROLE: Owner / Owner Representative
RESPONSIBILITIES: Entitlements, Offsite Infrastructure / Easement Acquisition, Contract Negotiation
1,188 Single Family Lots (40’, 50’, & 60’ lots)
750 Multifamily Units
7 Acres of Commercial Zoned Property
231 Townhome Lots
Originally acquired in the mid-1980s by Henry Carrell Franklin as a land investment, the property evolved into a prime covered land play through adding an event center. Once known as Bill Bates Cowboy Ranch then Rock Creek Ranch Event Center, the site became a popular destination for local and community events as development steadily moved northward. With the surge in demand for residential properties post-COVID-19 pandemic, the area north of US Highway 380 in McKinney experienced a significant push for development. Leveraging the proximity of expanding utilities and collaboration with Rockhill Capital, Morphic Development successfully secured zoning for a master-planned community, now recognized as Aster Park.
ZONING AND ENTITLEMENTS: In 2021, following the approval of the zoning plan, Hines Development, based in Houston, Texas, acquired all single-family and townhome entitlements. As the Master Developer, Hines Development assumed responsibility for the offsite infrastructure extensions post-acquisition, facilitating a seamless transition of roles on the project.
CURRENT STATUS: Morphic Development continues to represent the multifamily and commercially entitled sections of Aster Park on the ownership's behalf. Our team is working to ensure that all necessary infrastructure is in place to support the development of high-density residential properties.
THANKFUL FOR THE SUPPORT OF:
Goodwin Marshall – Civil Engineering & Surveying
Dowdey Anderson – Concept Planning and Zoning Exhibits
Rockhill Capital & Investments – Zoning and Development Consulting
Rane Pearson – Identified Hines Development as Single Family Developer / Master Developer
Hines Development – Eventual Master Developer of Aster Park Residential
Fair Texas Title – Title Company / Offsite Easement Coordination
INTERESTING FACT: This property resides in three different school districts (Prosper ISD, Celina ISD, & McKinney ISD).
