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Centurion American Expands Footprint in Northern Suburbs

DFW: One of North Texas’ most-prolific developers is adding to its portfolio in the northern suburbs. Centurion American Development Group’s latest project is in Gunter, just north of fast-growing Celina, where it will develop several hundred acres into Platinum Ranch. The project will be between the extension of Preston Road to the east and U.S. 377 and Lake Ray Roberts State Park to the west in Grayson County. It will be the setting for a mixed-use development that could have more than 4,000 homes, about 3,000 apartment units, a few dozen villas plus several hundred acres of lakes, parks and green spaces. There also will be room for school campuses. The Farmers Branch-based developer, who could break ground on the project later this year, has developed or is developing thousands of acres in Collin and Grayson counties into residential neighborhoods.

DFW: And in Terrell, east of Dallas, a new developer has big plans for its first master-planned community. Main Square Development of Plano is hoping to gain approval from Terrell city officials to build nearly 4,000 housing units and develop a large commercial space on 1,530 acres of land at FM 245 and Griffith Road in a multi-phase plan. If approved, infrastructure construction on the first phase could begin later this year. The 14-phase buildout could eventually bring 2,400 single-family homes, nearly 300 attached properties, more than 1,000 multifamily homes, along with 100-plus acres of commercial space. Nearly 150 acres of space will be dedicated to parks and trails. Terrell and other cities in Kaufman County have experienced fast-paced growth over the past several years.

U.S.: While many homeowners across the U.S. continue to hold on to their properties, real estate investors are making deals. In the latest Investor Report from Realtor.com, the company says that about 11% of homes, or around 500,000 properties, sold last year were tied to real estate investors. That’s a more than 5% jump from 2023 and the highest since the start of the new millennium. Analysts point to investors getting out of the market as rents began to dip. The median sales price was around $330,000. Investors in Missouri and Oklahoma led others in sales deals with 16.7% each. The report also said that investor buyers were tied to 13% of home purchases across the country last year. Investor buyers in Missouri and Oklahoma also led the country at 21% and 18%, respectively.

DFW: A nearly 70-year-old downtown Dallas office tower is poised to be the latest to go residential. The new owners of the 14-story, 175,000-square-foot Hartford Building, plan to convert the building into 217 apartments. Located on St. Paul Street in the eastern part of downtown Dallas, the 175,000-square-foot structure was built by Trammel Crow in 1959 and served as a regional headquarters for the insurance giant headquartered in Hartford, Connecticut. The building would be the latest in downtown Dallas to convert to residential, a trend that began slowly more than 30 years ago and gained more traction and attention during the pandemic after numerous companies vacated large chunks of office space when employees began working remotely. Downtown Dallas business leaders say there are now more than 15,000 residents living full-time in various downtown buildings.

NEW ENGLAND: Here’s the skinny on Bethenny Frankel’s latest real estate deal. The former star of the Real Housewives star and founder of the Skinnygirl Cocktails brand sold a historic Greenwich, Connecticut, luxe compound for $7.8 million. Frankel had owned several properties in the New York City area and in 2021, she bought Applejack Farm, a three-acre estate dating to 1743, paying $4.2 million. She then redesigned and renovated several residential areas of the estate that includes a five-bedroom house, a guest home, a studio and a converted barn. Frankel reportedly has moved south to Florida.

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