One particular of North Texas’ major developers has purchased a massive ranch southeast of Dallas for a residential community with as several as 4,000 houses.
Centurion American Enhancement Team – which has dozens of industrial and residential initiatives across the point out – bought the Cartwright Ranch on U.S. Highway 175 in Kaufman County. It is one particular of the most significant household land transactions in Dallas-Fort Value in 2020.
The home is in the city of Crandall in an area that’s previously looking at a surge in household enhancement.
“The assets is composed of somewhere around 1,350 acres and is prepared for roughly 4,000 houses,” said residence broker Rex Glendenning with Rex Genuine Estate. “Plans also simply call for a tiny retail-cafe growth at the northeast corner of U.S. 175 and FM 148.”
Farmers Branch-centered Centurion American obtained the undeveloped residence from Crandall Expenditure Companions L.P. The Cartwright Ranch is about 24 miles from downtown Dallas.
“They get started transferring filth in 90 days,” stated Centurion American CEO Mehrdad Moayedi.
The initially period will be web-sites for much more than 600 one-family members homes, Moayedi reported. Homebuilders D.R. Horton and Lennar will make residences commencing in the lower $200,000s, he explained.
“We annexed the house into the town,” Moayedi stated. “The big distinction with this undertaking and all the other individuals all over it is we are in the city of Crandall and we have all the town providers.”
The ranch residence is adjacent to developer Hillwood Residential’s Heartland local community, which is prepared for more than 7,000 properties when concluded. Numerous other massive residential tasks also are in the performs for that spot.
With land selling prices in Dallas’ northern suburbs at report amounts, house builders have headed east of the town to obtain extra cost-effective web sites for new household building.
Centurion American is a single of the D-FW area’s top household community builders with projects throughout the region. The enterprise is also identified for its higher-profile industrial developments, such as downtown Dallas’ Statler Resort and the Collin Creek Mall task in Plano.