Geargrafx is a brand-new open source TurboGrafx-16 emulator developed by drhelius, the same programmer behind the well-regarded Gearsystem and Gearboy emulators. The project brings that same focused, single-developer approach to NEC's classic 1989 console.
Being an early commit, the project is in active development, but its appearance on GitHub signals a serious effort to expand drhelius's emulator family to cover the TurboGrafx-16 hardware.