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New $800 million mixed-use development planned for Anna
By City of Anna
Oct 15, 2021
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2.3-acre lagoon and water park
included in project

Anna, Texas (Oct. 13, 2021) – During Tuesday’s regular city council meeting, the Anna City Council approved a Development Agreement with Megatel for the Anacapri Project. The project is estimated to cost $800 million. It includes 1,239 single-family units, 600 multi-family units, a 2.3-acre crystal lagoon, two sand beaches—one public and one private—a Flow Rider surf simulator, swim-up bar, kids play area, a water slide, 30,000 square foot commercial entertainment building and other amenities.

The Anacapri will be located immediately west of Anna High School beside the upcoming extension of Rosamond Parkway and Ferguson Parkway. To assist with the infrastructure costs related to the development, the City of Anna will create a Public Improvement District and Tax Increment Reinvestment Zone to reimburse costs.

 

The City will receive more than $2.1 million in Public Improvement District (PID) fees and 65 percent of sales/use taxes on construction materials. Additionally, the Anna Economic Development Corporation (EDC) and Community Development Corporation (CDC) will each receive .50 cents per ticket sold to enter the Lagoon area. 

“I am excited for the impact of this project and look forward to seeing it come to fruition,” said Mayor Nate Pike. “This is a game-changer for Anna and provides several unique activities for Anna neighbors.” 

Construction on the project is expected to commence in the next 3-4 months.

About Anna

Anna, Texas is among the fastest-growing cities in North Texas with a population of more than 18,000 and expected growth to 100,000 by 2050. Located in northern Collin County along U.S Highway 75, State Highway 5, and State Highway 121, Anna is a vibrant and emerging city that offers its neighbors an excellent quality of life and low cost of living. The combination of Anna’s strategic location along busy thoroughfares and the quantity of undeveloped land has positioned the city as an attractive location for retail and commercial establishments. Neighbors enjoy recreational opportunities, parks, trails, open spaces, easy access to the DFW and Red River corridors and a pace of living that offers a hometown feel in a thriving community. To learn more about the City of Anna, visit www.annatexas.gov 

About Anna Economic Development Corporation

With a population of 18,000+ expected to grow to 100,000 by 2050, the City of Anna is among the fastest-growing cities in North Texas. Located in northern Collin County along U.S Highway 75, State Highway 5, and State Highway 121, Anna is a vibrant and emerging city that offers its neighbors an excellent quality of life and low cost of living. With much of its land still undeveloped, Anna is becoming an attractive location for retail and commercial establishments. Neighbors enjoy recreational opportunities, parks, trails, open spaces, easy access to the DFW and Red River corridors, and a pace of living that offers a hometown feel in a thriving community. Learn more, https://opportunityannatx.com/.