Overview

Description

Vanguard Real Estate Advisors has been exclusively retained to offer developers and investors the opportunity to purchase 13.51+/- acres in Celina, TX (the "Site"). The Site is ideally located along FM 428 West (future Denton County Outer Loop) within the award winning Green Meadows Master Planned Community. It is a Phase 2 Parcel and the Seller will be self-developing Phase 1 as a 332-unit Class "A" multifamily project and expects to start construction in Q2 of this year. With an approved Development Agreement with the City of Celina, the Phase 2 Parcel per the Seller allows for approximately 392 units. The Site offers a great opportunity to develop entitled multifamily units in the heart of one of the fastest growing cities in Texas.

A 1.5% co-broker fee is available to a Broker that sources a Principal that Vanguard REA has not previously contacted or sent information to regarding this opportunity.

To gain immediate access to the marketing brochure and due diligence vault, click on the below link:
https://docsend.com/view/s/3b2da3cikwc3dxe7

** NOTE: As of 04/03/2023, ownership determined the actual developable unit count will be 378 rather than 392. Please base your analysis and any offer off of 378 units going forward. **

Highlights

• The 13.51+/- acre Site is ideally located approximately 1.5 miles west of Dallas Parkway, along FM 428, the expected route for the future Denton County Outer Loop
• Located in Celina, the Site is situated in one of the nations fastest growing corridors in a historically pro-development City
• Per CoStar, the Frisco/Prosper/Celina multifamily submarket carries an approximately $200 rent premium compared to the DFW average; rental communities within Celina are achieving effective rents up to $2.10 psf
• The Site is in Denton County, within Celina’s extraterritorial jurisdiction (ETJ), and is to be annexed into the City of Celina per the executed Development Agreement
• Delivery of the Site will include separate platting, water and sewer stubbed out, and paved access roads
• The U.S. Census Bureau estimates Celina has a population of 34,229, a 104 percent increase from 16,771 in 2020

Documents

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