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.”
D-FW Real Estate News
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 will be delivered to builders in the first quarter of 2027. Home prices and additional information will be released later.
Rio Claro joins other Centurion American communities in northern Fort Worth. The site is adjacent to Estates at Eagle Mountain, located 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 will be home to approximately 3,000 single-family lots.
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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