Dallas Developer Vijay Borra Buys 112 Acres Near Celina

Investor Vijay Borra’s latest land play in the Collin County growth corridor comes with a Bonnie and Clyde footnote.

Borra’s DFW Land Holdings acquired 112 acres in Celina for a mixed-use development, the Dallas Business Journal reported, adding to his string of high-profile land plays in the fast-growing corridor north of Dallas.

The site sits at the intersection of the Collin County Outer Loop and Preston Road, a hot zone for incoming infrastructure and commercial growth. Borra purchased the property from the Choate family, one of Collin County’s oldest settler families.

According to local lore and a display at the Celina Area Heritage Museum, the Choate Family Pharmacy, formerly located on the property, was once mistaken for a hardware store by bank robber Clyde Barrow, of the notorious American criminals Bonnie and Clyde, in 1932.

The price wasn’t disclosed but the site was last appraised at $26.5 million. Dallas-based Davidson Bogel Real Estate brokered the deal, with David Davidson Jr. and David Davidson Sr. representing the sellers. Davidson Jr. will also spearhead leasing efforts on behalf of Borra.

The development plan hasn’t been finalized, but Davidson Jr. is looking for a retail development partner for the project as well as retail, medical, hospitality and office users. Multifamily could also be included in the final master plan.

The property’s location along the Outer Loop, which remains under development, positions it at “the epicenter of infrastructure investment, retail expansion and population growth,” Davidson Jr. said.

Celina, now the fourth-fastest growing city in America, was previously the fastest growing city in the country from 2022 to 2023. Census data shows five of the 15 fastest growing U.S. cities are located in North Texas.

Borra has been an active player in the North Texas land market, completing a flurry of deals last year including the sale of 550 acres in Pilot Point and two purchases for 18 and 70 acres in Prosper.

Borra’s Celina acquisition reflects intensifying investor momentum in Collin and Grayson counties, where relative affordability, new job centers and road expansions are rapidly transforming rural parcels into regional development hubs.

Celina’s seeing a string of major local projects, especially retail. A planned 199,000-square-foot Walmart Supercenter began construction in April and is expected to open in 2026. It will be located at the northwest corner of Preston Road and the West Outer Loop. In addition, a Home Depot is set to rise at the northwest corner of Ownsby Parkway and Preston Road, located near a planned Costco. The town has also been a favorite of master-planned community developers like Megatel Homes and Mehrdad Moayedi’s Centurion American Development.

Celina officials proposed a whopping $2.3 billion school bond in April and outlined a five-year, $1.4 billion capital-improvement plan to address the population growth and infrastructure demands.

— Judah Duke