CM Realty acquired 500 acres in Kaufman County and plans to build a large community, including commercial real estate, in the growing city of Terrell.

The planned community, Evening Star Ranch, will include 800 apartments and 197,700 square feet of commercial space, including a new grocery store, a restaurant, a financial institution, and 1,000 homes. The City of Terrell negotiated the agreement with CM Realty. Rex Glendenning of Frisco-based Rex Real Estate represented both parties in the transaction. The project is located at 16242 State Highway 34.

Terrell is attracting growing interest from homebuyers and developers due to its proximity to Dallas. The city, with a population of more than 21,000 residents, is located about 25 miles east of downtown Dallas on I-20 and U.S. Highway 80.

Construction is expected to begin within a year and will proceed in phases. CM is currently seeking development partners for the project.