ANNA, TX - A huge land sale on the northern edge of Collin County is the latest major real estate play north of Dallas. An 861-acre tract on U.S. Highway 75 in Anna has sold for planned commercial and residential development.
Prosper-based Brown & Griffin Real Estate Advisors bought the land from homebuilder and developer Risland US Holdings LLC.
The property, which is on both sides of U.S. Highway 75, is part of the 3,000-acre Mantua community that Risland has been developing the last few years.
Risland U.S. chief operating officer Michael Hanschen said his firm at first had planned to sell just its highway frontage in Anna to Brown & Griffin at first.
“In the course of negotiations, the buyer expressed interest in additional commercial land, as well as the residential property surrounding Hurricane Creek Country Club in Anna,” Hanschen said. “After much consideration — and particularly given the sheer size of the Mantua project — it made sense to have more than one developer working on it.
“Risland will continue to develop the remaining nearly 2,000 acres surrounding the initial phase of Mantua located in Van Alstyne’s extraterritorial jurisdiction.”
Brown & Griffin closed the last of the property purchases on Wednesday.
“It’s a great tract,” said partner Teague Griffin. “It’s got a mile and half of frontage on both sides of 75.”
Preliminary plans for the project show sites for almost 1,200 single-family homes. There are more than 200 acres of commercial and mixed-use land along the highway.
“The city of Anna has been really good to work with,” Griffin said.
Founded in 2006, Brown & Griffin has focused on properties in Frisco, McKinney, Prosper, Celina and Gunter. The Collin County project will be the firm’s largest to date, Griffin said.
The developer’s new purchase is in an area seeing explosive growth.
Just to the north in Sherman, Texas Instruments and GlobiTech Inc. are investing billions of dollars in new semiconductor plants that will employ thousands of workers.
Risland has been building its Mantua project between Anna and Van Alstyne since 2019. Before the sale to Brown & Griffin, the community was planned to include 6,000 homes.
“At present, Mantua Point phase two has utilities going in and will bring an additional 324 lots online in early 2023,” Hanschen said. “Given the great results we have had in phase one, our outlook remains extremely bullish for this development corridor.
“Our builder lineup is remaining the same for phase two, with David Weekley Homes, Highland Homes, Perry Homes and Risland Homes.”
The first phase of Mantua had 223 home sites.
Homes in the Mantua community are priced from the $400,000s to the $800,000s.
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NORTH TEXAS REAL ESTATE & COMMUNITY NEWS