Cedarwood Development is moving forward with plans to build a 272-unit multifamily community about an hour north of Dallas in Celina.
The four-story complex, tentatively named Topaz at Light Farms, will be built on a 14.1-acre site at Knox Street and Collin County Outer Loop, the Dallas Business Journal reported.
Construction is expected to begin next summer, with completion anticipated in 18 to 20 months, according to Timothy Ridner, Cedarwood’s vice president of multifamily development. The project’s cost has not been disclosed.
The development will feature a mix of studio, one- and two-bedroom units, ranging from 600 to 1,280 square feet. The construction and design will be handled by affiliates of the Ohio-based developer, Tri-C Construction and Cedarwood Architecture. Cedarwood, which purchased the land in December 2020 and secured land use approvals from the city of Celina last November, will manage the property once it is complete.
Celina’s rapid expansion, particularly its growing population and job market, was a key factor in Cedarwood’s decision to develop in the area. The availability of land, strong job growth, and proximity to essential amenities like grocery stores, which include H-E-B, made Celina an ideal location for the project, said Timothy Ridner, Cedarwood’s vice president of multifamily development.
Celina’s growth has garnered national attention. The U.S. Census Bureau ranked it the fastest-growing city in the country, with a population of 43,717 as of last July — a 26.6 percent increase from the previous year.
The Celina Economic Development Corporation recently acquired a 32-acre plot near the historic downtown square, with plans to develop a mixed-use space including hotels, retail and offices.
Cypress Equity Investments has submitted plans for a 700-unit apartment complex called Celina Downtown, in addition to its 300-unit Alpine Ten55 project near Celina Town Square. Meanwhile, grocery chain H-E-B acquired 21 acres in the planned 3,200-acre Legacy Hills development, aiming to capitalize on the area’s rapid growth.
— Andrew Terrell
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