Celina’s building boom continues. Thriving real estate investment firm Tellus Group LLC is bringing a master-planed community worth $ 1.45 billion to the fast-growing suburb 40 miles north of Dallas.
The project, called mosaic, comprises 686 acres north of Tellus’ proposed Windsong Ranch, which is a little west of Prosper. The Mosaic site on Frontier Parkway is nine miles southwest of downtown Celina and approximately one mile from the Dallas North Tollway.
“North Dallas is a very popular primary residential destination,” said Craig Martin, President and founding partner of Tellus, in a September 15 press release. “Mosaic is already a remarkable property and has significant potential to become one of the best new Masterplan-planned lifestyle communities in the area since Windsong Ranch.”
The plans for Mosaic incorporate a nature-inspired lifestyle theme. As it stands now, each home will be within a five-minute walk of a greenway or park. More than 47 hectares are dedicated to open spaces and parks. Lakes with piers will anchor the development.
The first of around 3,000 houses should be ready for occupancy in spring 2023. Prices range from as low as $ 400 to over $ 1 million. Tellus estimates the community will be completed in six to ten years.
Several housing estates are being built in and around Celina that promise to further promote the growth of the city. Work is scheduled to begin later this year on a 3,200-acre project that will serve more than 11,000 single-family homes and apartments called Legacy Hills.
By May 31, Celina had issued 1,352 residential building permits that year, beating the much larger Frisco (1,283).
In April 2020, the population of Celina was 16,739, according to the US Census Bureau, up 178 percent from 6,028 in April 2010. This makes Celina the fastest growing city in North Texas.
According to the Celina Economic Development Corp. 22,793 people live in the city, of whom a total of 28,413 live in the Celina region. The urban population is projected to increase by 51,000 by 2026, with the number of employees in the region rising to 58,161. In 2020, Celina issued 1,862 building permits for new apartments.
City officials estimate the area’s population will eventually reach 378,000.
Celina is also one of the wealthiest suburbs. In January, a ranking by data provider HomeSnacks showed Celina catapulted 11 places – from 14th to 3rd place – on the latest list of Texas’ richest cities. The average household income is $ 124,375, the unemployment rate is 1 percent, and the poverty rate is 0.7 percent.
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