300 Homes Anderson Ranch

A 300-unit single-family residential community with an integrated 25,000 square foot neighborhood retail component, to be developed across a total built area of 925,000 square feet at 501 Anderson Ranch Road, Waxahachie, Ellis County, Texas. The development will be completed over a three-year construction period at a combined horizontal and vertical construction cost of $150 per square foot across the full built area. All 300 residential units will be designed as traditional American single-family homes, with individual lots accommodating standard family amenities consistent with premium Houston and Austin area master-planned communities; including landscaped gardens, dedicated driveways, private parking, children's playgrounds, community parks, walking trails, a full perimeter drainage system, controlled access gating, and recreational open space. The 25,000 square foot retail component will be allocated among neighborhood-serving uses including grocery, dining, and small-format commercial tenants, creating a self-sufficient community ecosystem from day one. Residential units will be offered at $250 per square foot and retail space at $600 per square foot, with pre-booking available throughout the construction period. The land is valued at $3,100,000 and the project carries a $2,500,000 mortgage at 5.75% over 30 years.

Financial Breakdown:

The project is structured with mixed capital, combining contributed land and cash as the equity base, alongside a $2.5M senior debt facility. The land contribution is valued at $3.1M, forming a substantial portion of the equity stack. A total of 300 equity shares will be issued at $464K per share. Debt financing is secured through a 30‑year amortizing mortgage at 5.75%, resulting in an annual debt‑service obligation of approximately $175K. Despite the leverage and long‑term debt service, the project’s return profile remains highly compelling, delivering an unlevered IRR of 49.17% and a levered IRR of 51.78%, making the opportunity difficult to overlook from a performance standpoint.A total of $2.39M of debt will be paid back. The total profit will be $91.28M. The equity holders will have their equity multiplied by 1.63X.