Risland starts development of 6,000-home community in Anna, Mantua
- Yang Tan
- Mar 22, 2021
- 3 min read
Updated: May 14, 2023
Risland home US Holdings has broken ground on its newest North Texas development, Mantua, planned to have 6,000 houses at buildout on U.S. Highway 75 in northern Collin County.
The project encompasses five miles of Highway 75 frontage in Anna and Van Alstyne.
The development includes 2,000 acres for single-family residential homes, 675 acres for commercial space, as well as 275 acres of parks, lakes and creeks, said Michael Hanschen, senior managing director of Risland US Holdings. The commercial space will include offices, retail and mixed-use.
Homes in Mantua will start at about $300,000, Hanschen told the Dallas Business Journal in an interview.
Plano-based homebuilder and residential developer Risland US Holdings LLC is the U.S. subsidiary of a Hong Kong-based multinational real estate conglomerate Risland Holdings.
“Our goal for Mantua is to serve the growing population, support the businesses that will drive the economic engines of tomorrow, and to enrich the lives of its residents and visitors alike,” Hanschen said in a prepared statement. “Mantua’s mix of housing, commercial facilities and spaces for social and cultural activities will be a great addition to the Texas traditions of Van Alstyne and Anna.”
Mantua Point, the first phase of residential development, will have an amenity center that will include a community-centric facility with children’s pool, splashpad, adult pool, several gathering areas, nature trails, a dog park and “green” play areas that intertwine with the surrounding heavily wooded area.
Orchards and community gardens will be a theme through the 2,950-acre development. Preserving and enhancing the natural beauty of the area is a top priority for Risland, Hanschen said.
The development will have 25-plus miles of off-road hiking, biking and walking trails connecting residential neighborhoods to parks, recreation and to the Lake District, an amenity located at the center of the development.
Phase I consists of 222 single-family residential homesites. Model homes are expected to open mid to late 2020.
Risland Homes, Risland US Holding’s homebuilding division, is projecting a high volume of sales activity based on recent public interest, Hanschen said.
Risland is also focused on developing strategic partnerships with various groups, including KDC Real Estate Development, to plan and design future office campus sites, as well as retail groups, healthcare providers and entertainment companies, according to a news release from the company.
In addition to more than 6,000 homes, at buildout, the Mantua development will have several million square feet of office space, retail and mixed-use facilities, which will all be connected by more than 15 miles of roads.
Risland US Holdings’ first residential community is the 300-acre Legacy Gardens project in Prosper. At that development, just west of the Dallas North Tollway and two miles north of Highway 380, Risland will deliver 134 homes in Phase 1 with prices starting at about $490,000 and going into the $800,000s.
Legacy Gardens will have 650 homes at full buildout.
Other North Texas projects will follow Mantua and Legacy Gardens, Hanschen said in a prior interview with the Business Journal.
"We’re actively poking around the market right now,” he said.
Both Prosper and Anna are among the five fastest growing cities in the nation, and Risland will look for other opportunities in high-growth areas, he said.
Hanschen said Risland’s growth plan calls for the company to be in four to eight communities in North Texas in three to five years, and the company will look at opportunities in the Houston, Austin and San Antonio markets.
Geographically, Risland will focus at least initially on the “Golden Corridor” north of Dallas.
“I can see us going into potentially Celina, McKinney, maybe out into Princeton, but right now, we’re focused on our two communities, and we’ll sprinkle into a few other communities by way of lot takedown,” Hanschen said.
Author: Bill Hethcock
Published on Sep 16, 2019, 12:39pm EDT
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