Celina's Legacy Hills is currently being developed, but it has already been honored as the top-planned community by the Dallas Business Journal.
The project will eventually contain 7,000 single-family homes, 4,100 apartments, and many amenities, as reported by DBJ. reported. Centurion American is the project developer and is collaborating with various home-building companies to offer a variety of home designs. Ashton Woods, Beazer Homes, and DR Horton are some of the builders involved. Three lot sizes will allow for unique neighborhoods.
The entire community will occupy over 3,000 acres of land and will include a man-made pond, an 18-hole golf course, a 27-acre sports park, and a three-mile walking and biking trail. Two new schools and two fire stations will also be part of the project. Additionally, there will be a dedicated 55+ neighborhood designed by Del Webb, a national designer of senior communities, as reported by The Dallas Morning News.
The estimated cost of the project is $4.5 billion, according to reporting by D Magazine. Centurion America’s CEO Mehrdad Moayedi stated that the project will ultimately result in a significant increase in property tax revenue.
Moayedi commented, “[The city is] going to make so much money it’s not even funny.”
Rex Glendenning facilitated the acquisition of the land for the project. Glendenning, whose family settled in Celina in 1887, sold the land in 1983. He brokered the deal with Centurion America in 2021.
Glendenning expressed, “In my opinion, this deal will be the most profitable project that Centurion American has ever undertaken.”
Centurion America has been engaged in several prominent real estate transactions in the Dallas area recently. They spearheaded the revival of the Statler Hotel and Residences, are leading the redevelopment of the Collin Creek Mall, and recently broke ground on a North Richmond Hills mixed-use project named CityPoint.
Moayedi has been living in the Dallas area since 1970 when he arrived in the United States from Iran D CEO reports. Following the Iranian Revolution of 1979, Moayedi started a landscaping business that eventually led him into real estate development. He has overseen projects in Euless, Little Elm, Rowlett, Aledo, Forney, Lewisville, Pilot Point, Plano, Crandall, Anna, and Argyle, with some dating back to the mid-1980s.
Construction is already in progress, and the first homes were delivered earlier this year. The entire project is expected to take 10 to 15 years to finish. The location’s proximity to the Dallas North Tollway will provide Legacy Hills residents with swift access to the arts and entertainment of Dallas.
“The judging process was based on the expected economic impact of a deal or development, including job creation and capital investment, as well as factors like the creativity required to get the deal done,” DBJ explained.
