The community, named Sherley Farms, will include 3,000 homes east of Highway 5 near downtown Anna.
ANNA, Texas — This story was originally published by our partners at the Dallas Business Journal. You can read the original version here.
Tellus Group has purchased a massive tract of land in Anna for a $1.5 billion master-planned community.
The Prosper-based developer bought 970 acres on Dec. 27 from Sherley Partners Ltd. in partnership with Houston-based Caravel Ventures, Japan-based Sumitomo Forestry, and Schaffer Michael LLC, according to a Jan. 13 announcement.
The community, named Sherley Farms, will include 3,000 homes east of Highway 5 near downtown Anna. It will also feature over 150-acres of open space, a 65-acre farm as a central element, and trails connecting the development to downtown Anna and other local amenities.
Although terms of the deal were not disclosed, the property has a total market value of $28.6 million, according to the Collin County Appraisal District.
Construction is expected to begin this summer and finish in early 2027. The project is anticipated to feature homebuilders who have previously worked on other Tellus Group developments, including the $3 billion Windsong Ranch community in Prosper, the 1,100-acre Meraki community in Forney, and the $1.45 billion Mosaic master-planned community near Frontier Parkway in Celina, a spokesperson said.
“Sherley Farms reflects Anna’s vision for growth that enhances our quality-of-life,” Anna City Manager Ryan Henderson said in a statement. “It is a forward-thinking development designed for today and tomorrow.”
In recent years, Anna has become a popular destination for new residents seeking more affordable living in Collin County and access to quality schools. The city currently approves about 1,200 residential permits annually, a figure that is expected to grow as new job opportunities emerge with semiconductor plants by Texas Instruments and GlobalWafers planned in nearby Sherman, said Bernie Parker, economic development director at the city of Anna, in a Dec. 9 interview with the Dallas Business Journal.
The average home price in Anna is currently $359,580, which is roughly $311,000 less than the average in Frisco, according to Zillow. Anna’s population grew an estimated 17% from July 2022 to July 2023, according to U.S. Census Bureau data, which ranked No. 4 in the country for places with at least 20,000 people.
Like other cities in Collin County, Anna has also benefited from significant investments in road infrastructure. Projects such as the Collin County Outer Loop are helping transform these previously overlooked areas in the Dallas-Fort Worth region into thriving business and residential hubs.
As cities like Frisco and Plano near full development with large mixed-use communities, Anna’s future looks promising. The region currently has 65 miles of undeveloped land, and neighborhoods like the 700-home Coyote Meadows near U.S. 75 and State Highway 121 are setting the stage for what’s possible in this once-rural city.
Over the next five years, Anna is focused on improving its water and traffic infrastructure, and is looking to improve it’s amenity offerings through additional entertainment, retail, and medical development, Parker said. The city has already built more than 5,000 homes and is currently in the midst of developing thousands more, according to a recent marketing map shared by the city.
Editor’s note: The title of Bernie Parker, Anna’s economic development director, was updated shortly after initial publication.