On April 2, Megatel held a groundbreaking ceremony for Anacapri, a large master-planned community located just west of Anna High School.
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Dallas-based Megatel Homes LLC recently began construction on a $1 billion residential community centered around Anna's massive lagoon. Megatel aims to complete the second phase of the eight-phase project by the end of his 2024, co-founder Zach Ipour said.
On April 2, Megatel held a groundbreaking ceremony for Anacapri, a large master-planned community located just west of Anna High School. Anna is approximately 72 miles from downtown Dallas and approximately 11 miles north of McKinney. The growing city has a population of about 30,000 people, and Ipur said the development could add more than 7,000 new residents to the area.
Ipur said moving Anacapri to the construction stage will require the cooperation of many parties, including the City of Anna. Anna City Council moved forward with the project after approving it at its regular meeting last October.
He said Anna is also an “ideal location” for those working in Sherman, which has seen significant growth in the semiconductor industry and contributed to Texas' reputation as a leader in chip manufacturing. added. Semiconductor manufacturing plants from Taiwanese-owned Globitec and Dallas-based Texas Instruments are popping up in Oklahoma and neighboring cities, employing many residents across North Texas.
More than 100 people have already moved into the new community, which was most of the first phase of the project. The construction company plans to build around 400 new homes by the end of the year as part of the second phase. He said the average home price in the community is about $480,000 to $500,000.
“Homes will continue to sell because we're building something different than anyone else,” Ipur said, adding that he doesn't know of any other communities like this in Anna. Anacapri is named after a town on the island of Capri off the coast of Italy.
But the entire lagoon-centered development, which is expected to bring up to 2,000 single-family homes and more than 600 multifamily units to the growing Collin County city, won't be completed for the next five years, Ipur said. The project was originally estimated at about $800 million, but the cost ballooned to more than $1 billion as Megatel purchased more land to build additional housing.
Ipur also said the community's central facility, a 2.3-acre man-made lagoon, will likely be filled with water by the end of the year. The lagoon portion of the community will feature a 60-foot waterslide, sandy beach, surf machines, cabanas, a bar, and a restaurant that can accommodate up to 100 people. This feature is also available to people who don't live in that community.
“Quality resort-style lagoon master-planned communities like this are always in demand because they are unique,” he said. “You can't get this anywhere else, especially in the suburbs.”
Additionally, area families are anticipating the arrival of a new elementary school joining the Anna Independent School District system. The school, located near the future Anacapri community, is currently under construction and is scheduled to open in time for the 2025-26 school year.
In addition to the area's high-quality school district, another attraction of the area is the entertainment district with its lagoon amenities. It will be more than 45,000 square feet and will include a bowling alley, arcade, event room, fitness center and several restaurants. Ipour said the company plans to hire 70 full- and part-time employees to operate Anacapri's lagoon and entertainment division.
Anacapri Community is Megatel Homes' fourth lagoon community. Megatel, founded in 2006, has plans to build several lagoon-based developments in North Texas, including Bellagio in Forney and Sicily in Princeton. The company will also soon break ground on a $1 billion project called Soho Square in Dallas' Trinity Groves neighborhood.
