Special Episode: What We Learned From a 17-Offer SB 840 Deal in Plano

In this special bonus episode of the Texas Land Guys Podcast, Tom Dosch sits down with colleague Trey McGhin to break down one of their most talked about recent closings: a ~4-acre commercial site off the Dallas North Tollway in Plano, Texas. The deal marks what they believe to be one of the first closed transactions under Texas Senate Bill 840, the landmark legislation that took effect in September 2025 and opened the door for multifamily development on certain commercial sites across the state.Tom and Trey pull back the curtain on how the deal came together from listing to closing, what made Plano stand out from other cities, and why buyer Alan Harrison Companies won the deal by going hard money day one on a 60-day due diligence period, before anyone truly knew how Plano would process the entitlement.They also discuss how Plano's published height map, proactive planning department, and willingness to move quickly created a blueprint that other cities simply haven't followed, and why that gap is creating real opportunity for developers who know how to navigate it.With attorneys calling from New York and California about potential class action lawsuits, early whispers of legislative reform, and a growing list of cities either opening up or shutting down, Tom and Trey give a candid mid-2026 assessment of where SB840 stands and where the real deals are happening.Key TakeawaysSB840 is real, but only in select DFW municipalities that have chosen to process it.Plano's publicly available height map makes it one of the most transparent cities for SB840 underwriting.Seller motivation matters. This owner prioritized speed over maximizing price, which shaped the entire deal.Plano completed the pre-development meeting, site plan review, and consent agenda approval in under four months.Nearby heavy industrial designations nearly knocked the site out of eligibility mid-contract.Legislative reform to SB840 is already being whispered about, potentially as early as next summer.In This Episode:[00:00] Introduction[00:20] Background on the Plano site and SB840 law[01:11] Early efforts and municipalities’ approaches[02:13] Lessons learned from different cities[03:23] Importance of the Plano closing[04:02] How Plano handled SB840 and site setup[04:43] Marketing the site and offer process[10:39] Owner motivation and timing[12:02] Calculated risk and zoning uncertainty[14:35] Why Plano’s approach worked[16:46] Execution of the Plano deal[21:50] Blueprint for future SB840 deals[23:36] Where SB840 is working now[24:24] Closing and call to action Notable Quotes:[01:21] “We've closed an SB840 deal now, which I think a lot of people in the market are still wondering how real it is. So it's great to have one that we've actually closed and for it to be in Plano.”– Trey[08:00] “We had five groups that essentially were not invited to the best and final process, who said, you know,  I want a shot at this, I'm submitting like, which, you know, is not uncommon, but usually we don't get five groups doing that.”– Trey[15:20] "If Plano doesn't process this deal specifically, we're talking about a million and a half in park fees they just left on the table." — Trey[18:41] “There are some very, very credible developers at the table who got second and third and they were working in Plano at the time on different projects saying like you're not going to have answers in 60 days.”– Trey[23:16] “I think right now where we sit in kind of the middle of 2026, we are not spending any time on SB840 in certain cities. And then there's other cities where we're really spending a lot of time.”– TomResources and LinksPodcastTexas Land Guys Podcasthttps://dmre.com/Trey McGhinhttps://www.linkedin.com/in/trey-mcghin-14926960/https://dmre.com/https://ascentinv.com/https://100xharvest.org/Tom Doschhttps://www.linkedin.com/in/tom-dosch-37263b3b/https://dmre.com/https://ascentinv.com/https://100xharvest.org/