A massive land sale in the northern end of Collin County is the latest major real estate deal north of Dallas. 861 acres of land Anna’s US Highway 75 Sold for planned commercial and residential development.
Prosper-based Brown & Griffin Real Estate Advisors purchased land from a homebuilder and Developed by Risland US Holdings LLC.
The land on either side of State Highway 75 is part of the 3,000-acre Mantova community that Lisland has been developing over the last few years.
Risland US Chief Operating Officer Michael A. Hanschen said his company originally planned to sell just the Anna freeway frontage to Brown & Griffin.
“During the negotiation process, the buyer expressed interest in additional commercial land and residential properties around Anna’s Hurricane Creek Country Club,” Hanshen said. “After much consideration, it makes sense that multiple developers would work on it, especially given the scale of the Mantua project.
“Risland will continue to develop the remaining approximately 2,000 acres surrounding the early stages of Mantua, which is located in Van Alstyne’s extraterritorial jurisdiction.”
Brown & Griffin closed its final property purchases on Wednesday.
“This is a great tract,” says partner Teague Griffin. “On each side of the 75 he has a 1.5 mile front.”
Preliminary plans for the project show a site for approximately 1,200 single-family homes. There are over 200 acres of commercial and mixed-use land along the highway.
“The City of Anna has been really nice to work with,” said Griffin.
He said the Collin County project will be his company’s largest development.
Founded in 2006, Brown & Griffin has focused real estate in Frisco, McKinney, Prosper, Selina and Gunter.
New developer purchases are in areas of explosive growth.
Just north of Sherman, Texas Instruments and GlobiTech Inc are investing billions A few dollars for a new semiconductor factory that will employ thousands of people.
Risland is building the Mantua project Between Anna and Van Alstyne since 2019.
Prior to its sale to Brown & Griffin, the community was to include 6,000 homes.
“Mantor Point Phase 2 is now open for public works, with 324 more parcels expected to come online in early 2023,” said Hanschen. “Given the excellent results obtained in Phase 1, the outlook for this development corridor remains very bullish.
“Our line-up of builders will remain the same for Phase 2, 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 range in price from $400,000 to $800,000.