Located in Van Alstyne, TX, Mantua Crossing is an investment opportunity that measures 81.4 acres of land. The property is approved for 800 multifamily units, retail and commercial. It has 3-4 years holding period. Property location complements direct access to 1-75, which is a major connection to Sherman & Dallas Downtown.
There is a 20-acre Flood Plain. Among them, 10 acres can be reclaimed and developable. Including reclamation and earth works, its cost estimate is about 250k-300k. In an Open Green Space, 10 acres are left over Flood Plain can be used for detention and open space requirements. After reclamation and open space usage, Net Flood Plain is 0 acres. Additional Flood Plain may be acquired based on survey at no additional cost.
Strategic acquisition by Midas :
*Mantua current development is towards west of 1-75 (phase-I,II & III)
*MUD district in plane, allows for developer reimbursements for infrastructure costs on the property.
*Water line exists across the street, sewer will be provided by developer.
*Van Alstyne schools are rated higher than surrounding cities like Sherman, Anna, Howe, Dorchester.
*Van Alstyne Highschool is currently under construction, west of 1-75, opens in Summer 2024.
**Future elementary school and middle school also planned west of 1-75 near the property.
Legal documents will be provided by the end of this month. Secure debt service and funds deposit will take place on Feb 3rd. And legal documents will be executed and closed on Feb 24th. Risland-US the seller of this property, is a subsidiary of Country Garden. It is a multinational conglomerate engaged in various real estate developments. It’s DFW current developments include Legacy Gardens in Prosper-TX and Mantua in Van Alstyne-TX.