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McKINNEY, TX-Western Rim Investment Advisors Inc. has secured 28 acres of multifamily-entitled land at a prominent freeway junction. The listing had drawn inquiries from nearly every major multifamily developer working the Dallas/Fort Worth terrain.

The dirt was on the market less than three months, according to Mark Freeman, vice president of Transwestern Dallas. Key to its quick all-cash sale is its location: the northwest quadrant of US Hwy. 75 and Texas 121, a development site bisected by the proposed extension of Collin McKinney Parkway. Comparably priced multifamily-designated land is going for $7,000 to $10,000 per unit. The just-sold dirt could hold up to 672 units.

The Western Rim point men have told local leaders that the plan is to build 440 to 460 units of the Estates brand, touted as an all-inclusive lifestyle with private club privileges. If the developer keeps to the original plan, the McKinney project would be the fourth development for the brand.