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Centurion American Planning New Community in Aubrey

DFW: Centurion American Development Group is returning west for its next big project. The prolific Farmers Branch-based developer has purchased nearly 170 acres near Aubrey in Denton County for its Covey Creek community that will have nearly 830 single-family homes. The project site at FM 428 and Coffey Road is next to another Centurion American development called Chaparral Ridge, a nearly 500 single-family home community located on nearly 160 acres. Infrastructure work is expected to begin shortly on the Covey Creek development and lots should be available for builders in early 2028. So far, D.R. Horton and First Texas Homes are planning to build on the Covey Creek lots but home specs and prices have yet to be determined. Centurion American is credited with building several hundred master-planned communities across DFW over the past three decades. 

DFW: A real estate investment group has ranked DFW as the No. 1 metro in the country for investment. Norada Real Estate Investments, based in Laguna Niguel, California, joins other companies in pointing to North Texas as the best market for investment based on various key factors. Among those factors: continued corporate relocations to North Texas, a diversified economy, availability and affordability of land, job growth and, specifically for Norada, a good rent-to-price ratio for immediate positive cash flow, especially in the Arlington and Grand Prairie areas. Norada also rounded out its Top 5 list with Jersey City, New Jersey, calling it a great investment alternative to the Big Apple; Miami because of its tech market and wealthy international base; Atlanta, where long-term rentals are spiking; and Houston because of investments near medical centers that have great cash flow. 

DFW: It’s not a full-court press yet, but the Dallas Mavericks seem to be committing to an important step toward their new home. The team has filed a rezoning request for more than 100 acres at the former Valley View Mall site in North Dallas. It wants to amend the current planned development district with a new subdistrict that would include a sports and entertainment site. The parcel is north of Interstate 635 between Preston Road and Montford Drive. Despite the zoning request, the team has not fully committed to the site and instead is exercising and paying for options to safeguard it through the due diligence process. City leaders had hoped that the team would consider staying in the city center area after announcing its move from American Airlines Center in 2031, but the only viable site that has emerged has been the crumbling Dallas City Hall, whose future, so far, remains in doubt.  

DFW:  Some positive things are happening on Y’all Street in Dallas. Construction permits have been filed for work linked to a future office tower at an Uptown site, expected to be the billion-dollar Morgan Stanley regional headquarters. Work on the Goldman Sachs campus continues nearby with the 14-story, 800,000-square-foot complex expected to be ready in early 2028. The Dallas City Council has approved a request from the Texas Stock Exchange for an electronic stock ticker on the soon-to-be-completed Bank of America Tower at Parkside, directly across from Klyde Warren Park. Scotiabank has opened a regional hub, and Texas Capital Bank has expanded its operations in the area and also is seeking City Council approval for its own exterior electronic stock ticker. 

LALALAND: Steven Spielberg is looking to part ways with Dogwood, his secluded equestrian estate that includes a seven-bedroom, nine-bath home on nearly 3 acres in the Sullivan Canyon area of Los Angeles. The Academy Award-winning director and his wife, actress Kate Capshaw, bought the property for $5 million in 1999 and completely renovated it and at one time wanted to transform it into a multistory equestrian facility. They are now asking $30 million for the two-parcel estate that combines rustic with luxury throughout the main home, plus a guesthouse and barns. The couple never lived on the equestrian estate, instead having resided in their 20,000-square-foot Pacific Palisades estate for more than 40 years. They also have another beachfront home in Malibu, plus a 6-acre estate in East Hampton and a 6,000-square-foot apartment on the Upper West Side in Manhattan. 

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