Huge project near Celina will be the largest new housing community in Dallas’ north suburbs
A local developer who is already the largest developer in the area has purchased a huge lot for the largest new housing development in the northern suburbs of Dallas.
Centurion American Development Group purchased 3,200 acres on the northwest side of Celina for a new community of 7,000 homes.
The sprawling housing estate – which will be named Legacy Hills – will have a four-mile frontage on the way of the Dallas North Tollway extension.
Along with the single family homes, Legacy Hills will have land for 4,000 homes and 100 acres of commercial and retail buildings.
The property was bought by an investment company that had owned the land for nearly 40 years, said real estate agent Rex Glendenning, who negotiated the wholesale.
“There is rarely an opportunity to acquire a thousand-acre, planned mixed-use project with over four miles of frontage along the Dallas North Tollway and just 20 minutes from the Legacy Business Park,” said Rex Glendenning, CEO of Rex Real Estate. “Mehrdad Moayedi has the vision to see how the new toll road access will help turn this property into a real world-class project.”
Legacy Hills will be the biggest new development in Celina already in the middle of a housing boom.
“This will be a city within a city and it will change Celina,” Glendenning said. “I believe that this property is the most beautiful building plot that I have been able to work on in my 40 years as a realtor.
“The property’s rolling hills, combined with the beautiful tree cover along Little Elm Creek, create a true hill country feel while being minutes from Dallas.”
Legacy Hills will feature an 18-hole championship golf course, a first for Celina. The new shared apartment is also slated for a 27-acre sports park, hiking trails, and seven leisure centers to serve residents. Land is reserved for two schools and fire stations.
“We plan to have Legacy Hills become the most sought-after address in Collin County,” said Mehrdad Moayedi, CEO of Centurion American, in a statement. “With a range of on-site amenities, a prime location and plenty of space; This development will become a real lifestyle experience for future residents.
“We have worked with the best builders in the area to ensure that Legacy Hills offers a diverse and impressive range of living sizes and styles.”
Centurion American Development Group is already recruiting home builders such as Ashton Woods, Beazer Homes, DR Horton, First Texas Homes, Lennar Homes, M / I Homes and Mattamy Homes.
“They’ll be cutting off the lots by late spring and summer 2022,” Glendenning said. “You probably won’t have any houses on earth before Spring ’23.
“There’s a section on the southeast corner that could go live in the fall of ’22.”
He said the toll roads will be completed by next summer.
Glendenning brokered the big land sale with Charlie Adams and Chase Adams of the Stratford Group, who represent the seller, the Dynavest partnership.
Glendenning said the farm and ranch land that will become Legacy Hills was once known as Cow Mountain.
“A ridge line runs across the property,” he said. “The marketability of the Legacy Hills name is probably a little better than Cow Mountain, as the classic cars called it.”
The major land sale near Celina is just the latest in a series of major property purchases Rex Real Estate recently completed for Centurion American Development.
The developer has just purchased more than 1,100 acres in Kaufman County near Terrell for a 4,000-home residential project.
And in October, Glendenning arranged the sale of another piece of land for 850 houses on the west side of Celina on FM 428.
The land rush in the suburbs of Dallas has intensified over the past year with the huge demand for new homes.
Single-family home starts in North Texas have increased more than 40% so far this year. And builders and shopping opportunities for new neighborhood construction sites.
The Legacy Hills community is located northwest of Celina in Denton County.(Rex Real Estate)
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