Sprawling ranch southeast of Dallas sells to developer with options for hundreds of residences
Just one of North Texas’ important builders has procured a huge ranch southeast of Dallas for a household community with as many as 4,000 properties.
Centurion American Advancement Group – which has dozens of business and household initiatives throughout the condition – acquired the Cartwright Ranch on U.S. Highway 175 in Kaufman County. It’s just one of the largest residential land transactions in Dallas-Fort Value in 2020.
The house is in the city of Crandall in an space which is currently viewing a surge in residential advancement.
“The residence is composed of somewhere around 1,350 acres and is prepared for about 4,000 residences,” said property broker Rex Glendenning with Rex True Estate. “Plans also phone for a little retail-cafe enhancement at the northeast corner of U.S. 175 and FM 148.”
Farmers Branch-primarily based Centurion American obtained the undeveloped property from Crandall Expenditure Associates L.P. The Cartwright Ranch is about 24 miles from downtown Dallas.
“They commence going filth in 90 days,” mentioned Centurion American CEO Mehrdad Moayedi.
The initially phase will be sites for far more than 600 one-family homes, Moayedi mentioned. Homebuilders D.R. Horton and Lennar will create houses setting up in the low $200,000s, he explained.
“We annexed the home into the city,” Moayedi reported. “The huge big difference with this challenge and all the some others all-around it is we are in the metropolis of Crandall and we have all the town products and services.”
The ranch house is adjacent to developer Hillwood Residential’s Heartland group, which is prepared for far more than 7,000 properties when finished. A number of other big residential assignments also are in the operates for that place.
With land costs in Dallas’ northern suburbs at record amounts, home builders have headed east of the town to discover a lot more reasonably priced web pages for new property building.
Centurion American is just one of the D-FW area’s top residential neighborhood builders with jobs in the course of the area. The corporation is also recognised for its significant-profile business developments, which include downtown Dallas’ Statler Hotel and the Collin Creek Mall challenge in Plano.