VAN ALSTYNE, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
A North Texas developer has unveiled the name and builder lineup for its new 667-acre residential community in Van Alstyne, north of Dallas.
Highpoint Village will bring 2,200 new homes to the small city along the rapidly growing U.S. Highway 75 corridor. Farmers Branch-based Centurion American Development Group expects to break ground in late 2024 and the first lots should be available for homebuilders by the second quarter of 2026, the company announced Oct. 18.
Homes in the neighborhood will be built by seven homebuilders: Ashton Woods, D.R. Horton, First Texas Homes, Lennar, Mattamy Homes, Pacesetter Homes and Pulte Homes.
The location is near the Collin-Grayson County line, bordered by Collin McKinney Parkway, County Road 222 and Mantua Parkway.
Centurion American bought the land for the project from Risland Mantua LLC. Rex Glendenning with Frisco-based Rex Real Estate negotiated the sale for both Risland Mantua and Centurion.
The land acquisition was part of a roughly 3,000-acre tract previously owned by the Risland entity. It adds to Centurion’s growing number of developments along the U.S. 75 corridor, where large master-planned communities are increasingly springing to life.
"Mantua has a history in the region that goes all the way back to 1854, and we are proud to be a part of its future," Mehrdad Moayedi, CEO of Centurion American Development Group, said in a statement.
Along with single-family homes, the development will have 300 townhouses. Plans also call for two amenity centers and more than 110 acres of green space. A 20-acre athletic field maintained by the City of Van Alstyne will also be a part of this development. An additional 64 acres within the development are reserved for commercial use.
Trez Capital, a real estate investment firm based in Vancouver, British Columbia, provided financing assistance for Highpoint Village.
Van Alstyne is feeling development pressure from two sides: the continued growth of the Metroplex to the south and large semiconductor plants that will add thousands of jobs rising in Sherman, 15 miles north along U.S. 75.
Texas Instruments Inc. has two wafer fabrication plants, or fabs, under construction in Sherman and semiconductor production is set to begin next year. The company also plans two more fabs at the Sherman site for a potential $30 billion total investment and as many as 3,000 jobs.
Taiwan-based GlobalWafers Co., through its subsidiary GlobalWafers America, is also investing large sums in a new silicon wafer manufacturing factory in Sherman. At full buildout, the 3.2 million-square-foot silicon wafer factory is expected to generate about 1,500 jobs.
Van Alstyne, with a population of more than 6,500, is looking to attract both commercial and residential development. Last year, the Van Alstyne Economic Development Corp. purchased 67 acres along FM 3133 for the future site of an industrial park.
Though construction on the homes in Highpoint Villlage won’t begin for a couple of years, Van Alstyne is already seeing an uptick in residential construction. Through September, the city had issued 410 single-family building permits this year, compared with 126 in the same period last year.
The new community will join other Centurion American developments in Grayson County, including the Bridges at Preston Crossing in Gunter and the Cottonwood development in Dorchester. The Cottonwood development will bring more than 2,150 residential lots to a nearly 700-acre site.
