Centurion American Development Group is expanding its reach in North Texas with a master-planned community in north Fort Worth.
The Farmers Branch-based firm, led by developer Mehrdad Moayedi, acquired the 629-acre Rio Claro project from PMB Capital Investments this month for an undisclosed price. The community, southeast of Morris Dido Newark and Bonds Ranch roads near Eagle Mountain Lake, is slated for nearly 1,800 homes, the Dallas Business Journal reported.
PMB Capital secured city approvals in 2022 for a 1,900-home plan, but Centurion has since adjusted the layout to 1,761 single-family homes built across four phases.
IBC Bank is providing financing for the development, which will feature homes from Coventry Homes, D.R. Horton, First Texas Homes and HistoryMaker Homes on lots between 50- to 80-foot lots.
Construction on the first phase is expected to begin in early 2027. Fort Worth’s explosive population growth is driving suburban housing demand, Moayedi said.
The deal deepened Centurion’s bet on the north Fort Worth market.
The company is planning Alpha Ranch, a 1,825-acre community along Sendera Ranch Boulevard north of Fort Worth that could eventually include 4,000 homes. Rio Claro also sits near the Estates at Eagle Mountain, an 836-acre, 1,126-lot subdivision in the works by other builders, adding to the surge of residential activity around the lake.
As rooftops rise, infrastructure is trying to keep pace. Fort Worth officials are weighing a $200 million plan to widen Bonds Ranch Road, add streetlights and upgrade intersections to ease congestion tied to the area’s rapid build-out. The corridor has become a magnet for national homebuilders, including Lennar and D.R. Horton, both of which already have multiple projects nearby.
Centurion American has developed more than 200,000 home lots across North Texas since 1990, including Collin County’s 3,200-acre Legacy Hills and the billion-dollar overhaul of the former Collin Creek Mall in Plano.
— Eric Weilbacher
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