Centurion American Development Group has secured 667 acres near the Collin and Grayson county lines for a residential community in North Texas.
The Farmers Branch-based developer, known for its large-scale projects across the region, plans to develop more than 2,200 homesites in Van Alstyne, in a rapidly growing corridor north of Dallas, the Dallas Morning News reported.
Centurion American bought the land from an entity of Prosper-based Risland US. Rex Glendenning of Frisco-based REX Real Estate represented the buyer and seller in the transaction. Financing for the purchase was provided by Trez Capital.
The development will be bordered by Mantua Parkway, Collin McKinney Parkway and County Road 222. The project name and builder partners are still under wraps. Centurion American is set to start construction in the fourth quarter, with the first lots anticipated to be available by June 2026.
Alongside single-family homes, the development will feature 300 townhouses as part of the Mantua Lake District. The project will also include 64 acres for commercial development, two amenity centers and a network of pocket parks and green spaces covering 110 acres. The City of Van Alstyne will manage a 20-acre athletic field within the community.
The land purchase was part of a 3,000-acre tract previously owned by the Risland US entity. This acquisition adds to Centurion American’s growing portfolio of developments along the U.S. Highway 75 corridor, which is becoming increasingly busy with master-planned community developers.
The corridor continues to grow thanks to new employment opportunities from companies like Texas Instruments and GlobiTech.
Some of Centurion’s other communities in North Texas include Legacy Hills, a 3,200-acre master-planned community in Celina, and Cottonwood, a 1,500-acre master-planned community in Grayson County. The developer is also redeveloping the former Collin Creek Mall in Plano.
— Andrew Terrell
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