Rockhill Capital & Investments acquired 116 acres in the North Texas city of Anna, 45 miles north of Dallas. Located at East Finley Boulevard and Sharp Street, the new community, named Jefferson Finely, will comprehend a total of 430,000 square feet.
Anna is sandwiched by two growing areas located some 20 miles south of Sherman and 40 miles north of Dallas, which resulted in a flood of new residents in the years following the pandemic when remote working became more common.
The development will include 320 multifamily units as well as 5,000 square feet of retail space for development.
The Frisco buyer will sell fully entitled tracts of land to homebuilders, multifamily and commercial developers, as well as end-users at County Road 371 and State Highway 5, approximately two miles east of the U.S. 75 corridor.
Younger Partners John St. Clair, Tyler Hemenway and Davis Willoughby represented the seller in the transaction.
9.5 acres on SH 5 is under contract to a commercial developer. Meanwhile, Rockhill is negotiating with a user/developer on the remaining 24 acres, which is zoned for multifamily.
The seller, the Cox Family, owned the land for decades before this sale. Rockhill’s Brent Libby added, “The Cox Tract is essentially infill on the east side of Anna, and we were able to secure a great entitlement package, which included single-family, multifamily and commercial zoning.”
Planning ahead for this big change, in 2022 the city invested in infrastructures like roadways and sewers in order to support more development and allow new buildings to be built on the west side. Additionally, they made things easier for developers, reworking the permit process so it takes days instead of weeks to finish.
The city even built a new city hall and new library to accommodate the surge of new residents of the Jefferson Finely. The town’s population is expected to double in the next decade, from 20,000 last year, to 45,000 by 2030.
