Currently Empty: $0.00
D-FW developer plans 2,200 homes in growing northern corridor
One of North Texas' busiest developers recently closed on 667 acres in a growth corridor north of Dallas that will support more than 2,000 homes.
Centurion American Development Group announced the deal on Friday. The Farmers Branch-based developer said it plans to bring 2,200 new homes to Van Alstyne.
Mantua Parkway, Collin McKinney Parkway and County Road 222 limit the development. It is located near the Collin and Grayson county lines.
The name of the development and the project's builders will be announced this fall, the firm said.
The project will also include the Mantua Lake District, which will be home to 300 townhouses. A builder for the townhouses will be appointed at a later date.
Centurion American expects to break ground on the development in the last three months of 2024. The first lots should be delivered to builders by June 2026, the company said.
“While Van Alstyne has been able to retain all the charm of its history, there is a bright future for this growing community,” Mehrdad Moayedi, CEO of Centurion American Development Group, said in a statement. “This development's proximity to US 75 makes it convenient for those who work in either Grayson or Collin counties.”
An additional 64 acres are reserved for commercial use. Two convenience centers will be located on 4.4 hectares. The development will also feature pocket parks and 110 acres of green space throughout the single-family and townhome communities. The town of Van Alstyne will maintain a 20-acre athletic field.
Centurion American purchased the land from Risland Mantua LLC. Rex Glendenning with Frisco-based REX Real Estate represented both parties in the transaction.
Trez Capitalwith John Hutchinson serving as co-CEO and global head of origination, provided the financing for the acquisition.
The 667 hectares were part of Developer Risland US Holdings' a larger estate of 3000 hectares in the area, according to a US Centurion representative.
Risland originally planned 6,000 homes plus commercial developments on the land. Work began on the development in late 2019. A representative for Risland did not respond to an email from Dallas Morning News before publication.
“Van Alstyne is starting to see the first real wave of master-planned developers. With Centurion American's investments in Anna and Van Alstyne, I think this Highway 75 corridor market will become even more in demand,” Glendenning said in a statement. “After four decades of brokering land, we are finally seeing not only a market push from the south and D-FW, but we're also starting to see an additional push south from the Sherman area with its new employment base from the IT and GlobiTech chip plants.”
The project joins other Centurion American developments in Grayson County, including The Bridges at Preston Crossing in Gunter and the recently announced The Cottonwood Project in Dorchester.
