New Celina community will bring homes, rentals and retail
By: Steve Brown
This post was written for and originally published on 11/18/2021 in the The Dallas Morning News
Ten Mile Creek project will include homes and apartments by California developer Cypress Equity Investments.
A new mixed-use development will add to Celina’s burgeoning housing market.
Dallas-based Corson Cramer Development will build a community in Celina called Ten Mile Creek.
The 251-acre project is planned on Coit Road and will include residential construction and commercial properties.
Construction is set to start next spring on the project for 371 single-family homes, 110 townhouses, rental homes and apartments. There’s also a 46-acre retail and commercial center in the works.
“Ten Mile Creek will be one of Celina’s most valuable opportunities for commercial and residential development within our thriving city,” city manager Jason Laumer said in a statement. “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 build the single-family homes in Ten Mile Creek. And Grenadier Homes is building the townhomes.
Cypress Equity Investments will develop apartments and a neighborhood of single-family rental homes.
“We’re excited to be expanding our commitment to Celina and contribute to their vision of building a vibrant city filled with high-quality neighborhoods, amenities and services,” Larry Corson, co-founder of Corson Cramer Development, said in a statement.
The Celina project is the first apartment and rental home development for Los Angeles-based Cypress Equity Investments. The real estate firm previously has built apartments in California, the Pacific Northwest, New York, Boston, Florida, Denver, Chicago and Las Vegas.
Cypress Equity Investments has built 13,700 multifamily units and commercial projects valued at more than $6.7 billion.
“As we continue to grow CEI’s national 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, Texas vice president of development for Cypress Equity said in a statement. “Our apartment homes and build-to-rent homes will deliver industry-leading quality housing and lifestyle options within the greater Ten Mile Creek community.”
Ten Mille Creek is Corson Cramer’s third project in Celina. The developer is also building the North Sky Celina and Cross Creek Meadows residential projects. This week, Corson Cramer also announced plans for a 281-home community next to the South Oak community on the north side of Lewisville Lake.