A 182-acre tract at the northeast corner of FM 902 and Bennett Road near Howe has changed hands for the first time in roughly 140 years, with Westlake-based Cherukuru Investments at Howe LLC purchasing the land from the Hightower family. The buyer has signaled plans for a phased mixed-use community with residential and retail components, according to brokerage and trade-press reporting.
TL;DR
- 182 acres at FM 902 and Bennett Road, just outside Howe city limits but inside Howe ISD, sold to Cherukuru Investments at Howe LLC.
- The Hightower family had owned the land for about 140 years; sale closed in April 2026.
- Buyer plans a phased mixed-use development with residential and retail uses over five to 10 years.
- Grayson County's 2026 appraised value for the tract is $3.8 million, double its 2022 appraisal of $1.9 million.
The transaction
Younger Partners brokered the sale on behalf of the Hightower Family Trust, with Executive Managing Director John St. Clair and Ethan Peck representing the seller. The deal closed in April 2026, and the firm announced it publicly in a May 19, 2026 press release. According to Bisnow's Dallas-Fort Worth Deal Sheet and The Real Deal, the buyer is Cherukuru Investments at Howe LLC, an entity tied to Westlake investor Ravi Cherukuru. The purchase price was not disclosed.
The property sits within the extraterritorial jurisdictions of both Howe and Sherman and falls inside the Howe Independent School District. It is currently unimproved land.
This is an exceptionally well-located development tract in one of the most active growth corridors in North Texas. Its proximity to major employment centers, across U.S. 75 and location within Howe ISD make it highly attractive for future residential development.
That statement came from Younger Partners' John St. Clair in the firm's May 19 release.
Planned development
Cherukuru has indicated the site will be built out as a phased mixed-use community with residential and retail components. According to Bisnow, development is anticipated to occur over the next five to 10 years, beginning with infrastructure improvements.
Public records cited by The Real Deal show Cherukuru filed a petition on April 28, 2026 to create a municipal utility district for the development. Municipal utility districts are a common tool in Texas to finance water, sewer, and drainage infrastructure for new master-planned developments outside city limits.
