Powell Corners could bring single-family homes and multifamily development, along with industrial and commercial uses, to 58 acres in Anna.
Multifamily developer Continental Properties and McKinney’s single-family developer Morphic Development have teamed up on the project set to be presented before the city council on April 23 for feedback.
The land has been held by Anna’s Hayslett family, which first came to the city in the 1920s. Last year, the site was floated by Phoenix-based NexMetro Communities for a build-to-rent cottage-style community that would feature more than 200 single-family homes. The project was denied by the Anna City Council.
While all the acreage is currently zoned for single-family residential, the development team has thought up four distinct uses for the property.
The developers plan to add mixed-density residential on about 11 acres and a 324-unit multifamily complex on just short of 25 acres. The mixed-density portion at Powell Corner would entail a subdivision comprising single-family detached homes on smaller lots, along with attached residential lots. It’s unclear how many single-family homes there would be ultimately.
Commercial, consisting of smaller businesses that would have one or more businesses within them, would take up nearly seven acres of the development. The developers have proposed to rezone about 13.5 acres that back up to a rail line to industrial.
The new approach to the current zoning is due to the developers’ belief that a single-family development would not be economically viable based on challenges such as the redesign and construction of C.R. 423.
Knapp Land Solutions is involved with the land-planning aspects of the project, while Manhard Consulting is serving as engineer.
Continental’s existing multifamily projects in North Texas include Springs at McKinney and Springs at Grand Prairie.
Continental, which is based in Wisconsin, is also suggesting the creation of a public-private partnership for the multifamily portion.
The developers are eyeing June to start the site plan process.
