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 is planning a 667-acre residential community that will bring 2,200 new homes to a small town along the booming U.S. Route 75 corridor.
Farmers Branch-based Centurion American Development Group expects to break ground on the community in Van Alstyne early next year and the first lots should be available for homebuilders by June 2026, the company announced Aug. 16.
The location is near the Collin-Grayson County line, bordered by Collin McKinney Parkway, County Road 222 and Mantua Parkway.
The name of the upcoming development and the builders contracted will be announced this fall, according to Centurion American.
"While Van Alstyne has been able to retain all of the charm of its history, there is a bright future for this growing community," Mehrdad Moayedi, CEO of Centurion American Development Group, said in a statement. "This development’s proximity to U.S. 75 makes it convenient to those who work either in Grayson or Collin counties."
Though construction on these homes won’t begin for a couple of years, Van Alstyne is already growing quickly. Through July, the city had issued 377 single-family building permits this year, compared to 97 in all of last year.
The homebuilding surge comes as large semiconductor plants that will add thousands of jobs are being built in Sherman, 15 miles north of Van Alstyne on U.S. 75.
Dallas-based Texas Instruments Inc. and Taiwanese-owned GlobiTech Inc. are investing huge sums in cutting-edge factories that will employ thousands, bringing new workers and their families to the area.
Centurion American bought the land for the new development from Risland Mantua LLC.
Rex Glendenning with Frisco-based REX Real Estate handled negotiations for both Risland Mantua and Centurion.
The residential community will be home to two amenity centers, for which 4.4 acres has been allocated, along with pocket parks and more than 110 acres of green space across both the single-family portion of the project and a townhouse community. The development will encompass the Mantua Lake District, which will be home to 300 townhouses. A builder for the townhouse component of the development has not yet been named.
A 20-acre athletic field to be maintained by the City of Van Alstyne is also part of the project. An additional 64 acres within the development are reserved for commercial use.
Glendenning said he sees this project as a key component in the growth of Van Alstyne and surrounding communities.
"Van Alstyne is beginning to see its first real wave of master-planned developers," Glendenning said in a statement. "With Centurion American’s investments in both Anna and Van Alstyne, I feel this Highway 75 corridor market will become even more sought after. After four decades of land brokerage, we are finally seeing not only a market push from the south and DFW, but we are also beginning to see an additional push south from the Sherman area with its new employment base from the TI and GlobiTech chip plants."
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.