Corson Cramer Development plans 500-plus home mixed-use lifestyle center in Celina
By: Bill Hethcock This post was written for and originally published on 11/18/2021 in the Dallas Business Journal
Another day, another development in Celina, the booming city straddling Collin and Denton counties.
Construction is set to start next spring on yet another community of new homes, plus shops and restaurants — this one with 371 single-family residences, 110 townhouses, plus rental homes and apartments.
Dallas-based Corson Cramer Development will build the master-planned community of residential and commercial properties on 251 acres just off the future Collin County Outer Loop east of Coit Road. A 46-acre retail and commentarial “lifestyle center” with space for restaurants, shops and neighborhood services will be part of the project.
The development, called Ten Mile Creek, will add to Celina’s mushrooming housing market.
It’s the third project in Celina for Corson Cramer, which also is constructing the North Sky Celina and Cross Creek Meadows communities. North Sky is under development west of Preston Road off Louisiana Drive, and Cross Creek Meadows, which Corson Cramer acquired and zoned for Arizona-based homebuilder Taylor Morrison, is just north of the future Collin County Outer Loop and County Road 87, soon to be Coit Road.
In addition, Corson Cramer – one of North Texas’ busiest residential developers – this week announced plans for the 281-home South Oak residential community on 70 acres the company recently purchased next to the South Oak community on the north side of Lewisville Lake.
Ten Mile Creek if the second new-home community announced this week in Celina, North Texas’ fastest-growing residential construction market. A master-planned development by Taylor Morrison and Trophy Signature Homes, called Wilson Creek Meadows, will add more than 225 homes on 50- and 60-foot homesites east of Colt Road off of Choate Parkway.
“Ten Mile Creek will be one of Celina’s most valuable opportunities for commercial and residential development within out thriving city,” City Manager Jason Laumer said in a statement released Thursday. “This project offers a variety of housing types, highly accessible commercial and significant open space to create a top-notch community.”
American Legend Homes and William Ryan Homes will construct the single-family homes in Ten Mile Creek, and Grenadier Homes is building the townhomes. Cypress Equity Investments will develop apartments and an enclave of build-to-lease single-family houses.
DFW Land Real Estate, based in Irving, purchased the commercial property within Ten Mile Creek.
“This was an important commercial land opportunity within Celina – one we intend to make the most of by creating a truly walkable restaurant and retail destination right pff the future Collin County Outer Loop,” said Vijay Borry, CEO of DFW Land.
The Celina community will be the first multifamily and build-to-lease development project in Texas for California developer Cypress Equity Investments. Los Angeles-based CEI has purchased, developed and invested in more than 13,700 multifamily units as well as select commercial projects amounting to more than $6.7 billion in value across the country.
“As we continue to grow CEI’s development platform, we are excited to partner with Corson Cramer on such a dynamic opportunity in the Dallas-Fort Worth market here in Celina,” Brandon Smith, vice president of development in Texas for CEI, said in a statement.
The Ten Mile Creek community is planned to have an amenity center with a resort-style pool, playground and dog park, as well as more than 22 acres of shared open space with mature trees and ponds connecting to Wilson Creek. The community’s looped trail system connects to Celina’s regional trail system.
It is located in the Celina Independent School District and is about a mile from the new Collin College campus that opened in August 2021.
Celina is North Texas’ fastest-growing home construction market, issuing 2,287 homebuilding permits through October. That’s up 66% from the 1,375 permits the city green-lighted in the first 10 months of the year.
For context, Frisco is the second-hottest homebuilding city year-to-date, with 1,744 permits through October, according to Addison-based Tomlin Investments, which tracks home construction in the fastest-growing suburbs and exurbs of Dallas-Fort Worth. McKinney ranks third with 1,508 permits through October.