North Texas Developer Acquires Fort Worth Development
A North Texas developer has acquired a Fort Worth development and plans to bring nearly 1,800 new homes to the site. Centurion American Development Group has purchased Rio Claro, a 629-acre master planned community in northwest Fort Worth. The site is southeast of Morris Dido Newark and Bonds Ranch roads.
“Fort Worth continues to be one of the fastest-growing cities in the country, and the demand for thoughtfully planned communities has never been greater,” Mehrdad Moayedi, president and CEO of Centurion American Development Group, said in a statement. “With Rio Claro, we are proud to bring a new neighborhood that balances high-quality homes with the natural beauty of the area, creating a place where families can thrive for generations to come.”
Development Details
The Farmers Branch-based firm purchased the development from PMB Capital. Funding for the Rio Claro development was provided by IBC Bank. The transaction closed Oct. 3. Financial terms of the deal were not disclosed.
The more than 629-acre property will be developed in four phases and feature 1,761 homes at full build-out. Lot sizes range from 50 to 80 feet. Builders for the development include Coventry Homes, DR Horton, First Texas Homes and HistoryMaker Homes.
The first phase of development is expected to begin soon, and lots are expected to be delivered to builders in the first quarter of 2027. Home prices and additional information will be released later.
Community Overview
Rio Claro joins other Centurion American communities in northern Fort Worth. The site is adjacent to Estates at Eagle Mountain, at the northeast corner of Morris Dido Newark and Bonds Ranch roads. Estates at Eagle Mountain is a 836-acre development that will feature 1,126 homes.
The combined communities cover almost 1,500 acres and are planned to be home to approximately 3,000 single-family lots.
Infrastructure Improvements
Centurion American said it is working closely with the city of Fort Worth, Tarrant County and local transportation authorities to improve roadways in northern Fort Worth. City, county and transportation entities held a public meeting Monday to discuss a nearly $200 million project to tackle traffic woes along Bonds Ranch Road. These residential developments are in the area.
“We relish the relationship we have with the City of Fort Worth and really respect the level of engagement and partnership they bring to the table,” Moayedi said.
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Conclusion
The acquisition of Rio Claro by Centurion American Development Group marks a significant investment in the Fort Worth area. The development of nearly 1,800 new homes will provide much-needed housing options for families and individuals in the region. With its commitment to working closely with local authorities and its focus on creating high-quality communities, Centurion American is poised to make a positive impact on the area.
Frequently Asked Questions
Here are some frequently asked questions about the Rio Claro development:
Q: How many homes will be built in the Rio Claro development?
A: The Rio Claro development will feature 1,761 homes at full build-out.
Q: Who are the builders for the development?
A: The builders for the development include Coventry Homes, DR Horton, First Texas Homes, and HistoryMaker Homes.
Q: When will the first phase of development begin?
A: The first phase of development is expected to begin soon, with lots expected to be delivered to builders in the first quarter of 2027.
Q: How much will the homes cost?
A: Home prices and additional information will be released later.
