A transformative residential project is on the horizon in one of Dallas’s fast-growing suburbs.
Ross Perot Jr.’s Hillwood Communities has acquired 1,380 acres of ranchland near downtown Celina, with plans to build a 4,000-home community called Ramble, the Dallas Morning News reported.
The development, located on Preston Road, is expected to open in 2025. It’s Hillwood’s fourth community in Celina, joining Bluewood, Lilyana and Glen Crossing. Construction is set to begin later this year.
“Celina is hot,” Hillwood president Fred Balda told the outlet. “To be able to control 4,000 lots in this market gives us a nice runway to do the things we like to do with these big master planned communities. We have been working on this now for probably a year or so.”
The first phase of Ramble, comprising 700 lots, has already been sold to five builders: American Legend Homes, Coventry Homes, Drees Custom Homes, Highland Homes and Perry Homes.
The community will feature a variety of housing styles, including townhomes and single-family dwellings on half-acre lots. Prices for single-family homes will start in the $400,000 to $500,000 range, Balda said.
The developer will reserve 18 acres for apartments and 64 acres for commercial and retail space. Residents will have access to a 4-mile greenbelt of parks, open spaces and lakes, the outlet said.
Hillwood’s latest acquisition sheds light on the imminent growth in Celina, where the annual delivery of 2,500 homes is expected to double over the next few years.
Other large-scale projects in Celina’s pipeline include Centurion American Development Group’s 3,200-acre master-planned community called Legacy Hills, and Seitz Group’s 77-acre mixed-use development, which is slated for 750 residential units, a 110,000-square-foot luxury fitness center and a slew of household retailers and restaurants.