The sale of 116 acres in North Texas is expected to pave the way for more than 300 homes in one of the nation's fastest-growing metropolitan areas.
Rockhill Capital & Investments said it acquired 116 acres in Anna, Texas, about 45 miles north of Dallas. The buyer plans to sell 325 lots to homebuilders, with construction expected to begin in the second quarter of 2025, according to Brent Libby, Rockhill's chief development officer.
Taylor Morrison, a Scottsdale, Arizona-based homebuilder, has already acquired 82 of the site's 116 acres and will break ground first, Libby said. Multifamily and commercial developers also are expected to build on the land.
The Dallas-Fort Worth region, with a population of more than 8.1 million, added nearly 152,600 residents between mid-2022 and mid-2023, more than any other metropolitan area, according to the latest U.S. Census Bureau figures. Homebuilders are searching the region for lots to satisfy the growing demand created by the rapid population growth.
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The seller of the Anna land, the Cox family, owned it for decades. It had received multiple offers through the years, according to Younger Partners, the commercial real estate brokerage that represented the seller.
“Ultimately, the family wanted to capitalize on the land market before unforeseen market factors took place,” John St. Clair, executive managing director of Younger, said in a statement.
The sale allows Rockhill to expand its existing land holdings in the nearby cities of Howe, Van Alstyne and Sherman, according to the company.
Rockhill plans to acquire more land in the area and make it more valuable by obtaining the necessary government approvals to develop it, or sell it to other parties, Libby said in the statement.