A Dallas-based builder known for creating $1 billion dollar lagoon-centric communities is hoping to debut the newest one at its master-planned community in Anna, Texas.
Dallas-based Megatel Homes is set to begin construction on its lagoon amenity at the AnaCapri residential community, with expectations for a “soft opening” in 2023 and a grand opening in the summer of 2024, according to a January 24 presentation by Megatel Vice President Steve Maglisceau to Anna City Council members.
The resort-style residential community, located at 1510 Hackberry Drive in Anna, will consist of a 2.3-acre lagoon surrounded by 1,200 single-family homes, 600 beach-themed apartments, and 40,000 square feet of entertainment space, according to the Anna Economic Development Corporation.
Joey Grisham, director of the Anna Economic Development Corporation believes the development is exactly what Anna needs to attract visitors who have previously opted for entertainment in Plano and Frisco, among others.
“A lot of people have interest because it has entertainment for families, something Anna really doesn’t have right now,” said Grisham. “We’re ready to get it going.”
Maglisceau expects construction on the lagoon to begin between February and March and forecasts a six-month time frame before residents can walk, paddleboard, and kayak around the lagoon. A video titled “Lagoon Living In DFW” was presented to Council members and depicted renderings of what the lagoon, homes, and amenities will look like after construction is completed.
AnaCapri’s residential apartments will be split across three- and four-story buildings, with a target completion date for the first buildings at the end of 2024, according to the presentation. The home portion of the community will consist of 40- and 50-foot-wide home lots and is expected to generate roughly $632 million after its completion, per the presentation to Council.
Maglisceau is also proposing an expansion to the AnaCapri development that could add up to 700 more homes, all of which would connect to the lagoon through a network of walkable trail systems. Megatel projects that the expansion could generate an additional $342.8 million in value upon its target 2029 completion, the Dallas Morning News Reports.
Dallas has many problems thwarting it from being able to consistently attract resort-style developments into the City. Besides Dallas’ density issue, many developers choose to build elsewhere to avoid the city’s contentious and broken building permit process, which Dallas City Manager T.C. Broadnax has been unable to fix, despite repeated promises to do so.