Rockhill Capital & Investments plans to develop hundreds of new homes after acquiring a large plot of land in North Texas.
Rockhill purchased 116 Acres in Anna, roughly 45 minutes north of Dallas. The firm plans to use the acreage to sell 325 lots to homebuilders, with work expected to kick off in the second quarter of 2025.
Rockhill Capital is a full-service real estate development firm with over $300 million in assets under management. Scottsdale, Arizona-based homebuilder Taylor Morrison is expected to be the first builder to break ground. The homebuilder has acquired 82 acres, more than 70% of the available space. Another 9.5 acres is also under contract to a commercial developer, with a third party interested in the remaining space, which is zoned for multifamily use.
North Texas has seen its population grow considerably in recent years, and there are no signs of letting up. The Dallas-Fort Worth region currently boasts a population of roughly 8.1 million, having added over 150,000 new residents between mid-2022 and mid-2023 alone.
As reported by The Dallas Express, North Texas is one of the fastest-growing metro areas nationwide.
The Metroplex is set to expand to nearly 8.5 million residents by 2028, an almost 9% jump from 2023. By 2100, Texas is estimated to be home to the country’s three largest cities, led by Dallas, with a forecasted population of nearly 34 million people.
The acreage in Anna was sold by the Cox family, who maintained possession of the parcel for decades. According to Younger Partners, the brokerage representing the family in the transaction, the family declined numerous offers over the years.
“Ultimately, the family wanted to capitalize on the land market before unforeseen market factors took place,” Younger Partners Executive Managing Director John St. Clair said in a statement.
The acreage is located at County Road 371 and SH-5, roughly two miles east of US-75. The sale price for the site was not disclosed.