Developers have broken ground on a new mixed-use project in Celina expected to have a massive economic impact on the fast-growing North Texas community.
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Legacy Hills, developed by Centurion American, is a 3,200-acre property that upon completion will include 7,000 single-family homes, 4,100 multifamily units, 100 acres of commercial development, the city’s first golf course and more. This is Centurion’s largest mixed-use project to date, according to the company.
“This Legacy Hill project will bring billions of dollars of assessed value to Celina for years to come, helping us to continue to build a great city,” Mayor Sean Terry, who is also vice president of Centurion American, said at an April 26 groundbreaking event. “That is why this is a historic occasion.”
Rex Glendenning, CEO of REX Real Estate, brokered the acquisition for Centurion. Glendenning is a fifth-generation resident of Celina and has been involved in a number of deals in the burgeoning Collin County city.
“Rarely does an opportunity to acquire a several thousand-acre master planned mixed-use development with over four miles of frontage along the Dallas North Tollway and only 20 minutes away from Legacy Business Park present itself,” he said in a statement.
Centurion was an early investor in Celina. The company developed the master-planned community Carter Ranch, which opened in Celina in the early aughts, when the city’s population was around 2,000 people, Terry said. Today, there are about 36,000 Celina residents, according to the city.
“We saw a place to develop a great community,” Centurion CEO Mehrdad Moayedi said of Carter Ranch. “We did, and it has blessed us tremendously to be in this community and be able to do the things that we do.”
The Legacy Hills project will include houses on lots between 40 feet and 60 feet developed by seven builders, including Ashton Woods, Beazer Homes, DR Horton, First Texas Homes, Lennar Homes, M/I Homes and Mattamy Homes.
“We’re planning for Legacy Hills to become the most sought-after address in Collin County,” Moayedi said in a statement. “With an array of onsite amenities, a prime location and ample open space, this development will be a true lifestyle experience for future residents.”
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