Continental, Tellus Target North Texas Boomtown for Resi Projects

Developers are planting the seeds for a pair of large-scale residential projects in Anna, a north Dallas suburb that’s experienced explosive growth since the pandemic.

A venture of Continental Properties and Morphic Development aims to deliver hundreds of apartments plus single-family homes, along with commercial and industrial space to a 58-acre site called Powell Corners, the Dallas Morning News reported.

Separately, Tellus Group, the firm behind the 2,000-acre Windsong Ranch community in Prosper, is proposing a 970-acre development with about 3,000 single-family homes, east of downtown Anna.

Both projects will be presented before Anna City Council on April 23.

The Powell Corners site has been owned by the Hayslett family since the 1920s. Phoenix-based NexMetro Communities previously proposed a built-to-rent community with 200 single-family homes, but city council denied it.

Continental and Morphic’s plan calls for a 324-unit apartment complex on 25 acres and an 11-acre subdivision with attached and detached single-family homes.

Furthermore, the firms envision 7 acres of commercial development, primarily comprising small businesses, and they want to rezone 13.5 acres for industrial use. The entire site is currently zoned for single-family residential.

Meanwhile, Tellus Group’s project, dubbed Sherley Farms, is slated for 125 acres of parks, trails and a working organic farm, blending agriculture with entertainment. More than 100 acres will be set aside for a mix of potential uses, including retail, multifamily or more homes.

The high-end development will require public funding via a Public Improvement District and Tax Increment Reinvestment Zone, while Anna will provide sites for civic and educational infrastructure.

The development will feature two amenity centers and embrace the “agrihood” lifestyle, fostering a sense of community centered around hobby agriculture.

—Quinn Donoghue