Younger Partners Negotiates Sale of 116 Acres in Anna for Mixed-Use Development
ANNA, Texas (Nov. 19, 2024)— Rockhill Capital & Investments struck a deal with the Cox Family to acquire 116 acres in the North Texas city of Anna, 45 miles north of Dallas. 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 booming U.S. 75 corridor.
Younger Partners Executive Managing Director John St. Clair, Vice President Tyler Hemenway and Associate Davis Willoughby represented the seller in the transaction. The sales price was not disclosed.
The single-family portion will be built in phases with development of 325 single-family lots, said Rockhill Chief Development Officer Brent Libby.
“Construction will likely begin early in Q2 2025,” Libby said. “We’ve already sold 82 of the 116 acres to homebuilder Taylor Morrison and they should break ground first.”
Libby added that 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, Hemenway said, noting that the seller received multiple offers on the property over the years but wasn’t prepared to sell.
“Ultimately, the family wanted to capitalize on the land market before unforeseen market factors took place,” St. Clair added. “This deal took place at the right time with the right buyer.”
The acquisition involved a lengthy zoning process to acquire the land, Willoughby said.
“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,” Libby explained. He added that Rockhill created a Public Improvement District (PID) on the single-family portion of the land, which helped the deal move forward.
“The City of Anna was great to work with and supported the project all the way through the process, which was a fairly complicated zoning case,” Libby said.
The transaction made sense to Rockhill, as it expands their current land holdings located in the nearby high-growth cities of Howe, Van Alstyne and Sherman.
“We’ll continue to source and acquire land in the area where we can add value through entitlements, and either develop the property or hold it for some time and exit to another developer or end user,” Libby said.
In addition to this deal in Anna, Hemenway and Younger Partners Senior Vice President Michael Ytem brokered the sale of more than 17 acres of family land in far north Collin County to Ascent Land Ventures for future development. Ytem and Hemenway also have 10.3 acres on the market for sale at a future hard corner of 923 E. FM 455 in Anna.