It’s still early in the process but Republic Property Group is working with the City of McKinney to build what could amount to a $2 billion project, near the Honey Creek property.

“The goal would be to have future commercial [space], corporate relocations, and business parks in the future,” Republic Property Group’s Jake Wagner said, “It really all starts with a proper framework up front and quality residential, and that’s what we would be focused on when starting the project.”

The company said that it has been talking to the property’s owner for several years and appears bullish despite a slowdown in the North Texas housing market in recent months. Republic says, to be successful, they’d need to create a municipal management district and work with McKinney to annex some more property. The company recently bought land in Frisco’s 2,500-acre Fields development to build rental homes.