An approximate 4-acre property, part of the 135-acre mixed-use development known as The Farm, was purchased by an apartment builder.
The buyer, a company created by Maxus Properties, purchased the land off State Highway 121 and Alma Road, county deed records show.
According to The Dallas Morning News, Maxus is a 36-year-old property firm that owns apartment complexes in nine states. In addition, the company manages 13,500 rental units and more than 470,000 square feet of commercial space. Maxus is also a real estate investment trust with properties in Frisco and Richardson.
Details from the apartment itself have yet to be released, but The Farm is already rapidly growing. The area offers a range of opportunities with Legacy only 7 miles away and the U.S. 75/George Bush at 9 miles. McKinney Corporate Airport is a 10-minute drive and a trip to either Love Field or DFW Airport takes less than 40 minutes.
The Farm in Allen is expected to be one of the largest additions to S.H. 121. The development plans to have approximately 1.6 million square feet of office, 142,000 square feet of retail, a 150-room hotel, 60,000 square feet of restaurants, townhomes and residential units.
It is also home to the new entertainment venue, The Hub. In addition to the project, the development will feature several amenities designed for the communities that surround it. Family-friendly parks, hike and bike trails, a lake with overlook seating and dining, play areas and nature trails will be throughout the development. Over 32 acres of open space will also be provided, including the 16-acre greenbelt area along Watters Creek, which will remain a natural wooded area.
The Farm also focuses on sustainability with features including bioswales for drainage, bicycle maintenance stations, electric vehicle charging stations, native landscaping and innovative irrigation systems will be incorporated into the project.