One of Dallas’s fastest growing suburbs is set to grow again with the development of Mosaic, a new master plan $ 1.45 billion community that could house up to 3,000 homes.
Prosper-based Tellus Group LLC, developer of Windsong Ranch, has acquired approximately 686 acres in Celina for the new community, the company said on Wednesday. The property is north of Windsong Ranch on Frontier Parkway, nine miles southwest of Celina and one mile from Dallas North Tollway.
Mosaic will revolve around a nature-inspired theme with every home within a five-minute walk of a greenway or park. Almost 50 hectares of the parish are reserved for parks and open spaces.
“The North Dallas area is a very popular prime residential destination,” said Craig Martin, president and founding partner of the Tellus Group. “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.”
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Mosaic is a new master-planned church in Celina.(Terra Group LLC)
About 68 km north of Dallas and 13 miles north of Frisco, Celina has become a magnet for new construction projects as its population is growing rapidly. Today about 28,000 people live there, a number that, according to data from Celina Economic Development Corp. to rise to 58,000 by 2026.
In early August, Centurion American Development Group purchased 3,200 acres in the area for a new 7,000 home community called Legacy Hills. Just months earlier, another development company announced plans to build an 800-household community called North Sky in Celina.
The hugely popular 2,000 acre Windsong Ranch, which opened its grand opening in 2014, made it easy for the Tellus Group to choose a location for Mosaic.
“There is very little that is not tied to construction companies in Windsong, and the market in this area is so strong that it is a breeze,” said Martin.
It took the company less than a week to hand over the first phase land from Mosaic to builders, Martin said. The first phase will consist of 500 lots, although development is entitled to a total of 3,000.
The first homes are slated for spring 2023, with prices expected to be between around $ 400,000 and over $ 1 million. The facilities will open in mid-2023.
The Tellus Group plans to expand elsewhere in the Dallas-Fort Worth area and has contracts pending in several other locations, including one in Kaufman County near Forney. This city is another exciting destination for developers like Megatel Homes, who on Tuesday announced a new $ 800 million lagoon community.
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