The 281-acre Platinum Ranch is located at the Southwest of the Grayson County Town of Gunter and along the future route of the Dallas North Tollway. Property broker Rex Glendenning said it’s “land zoned for a master-planned mixed-use project located nearly a mile north of the Legacy Hills Development, which is being constructed by Centurion American.”
Rex Glendenning, who handled the project said, “This property is also specially located just west of the recently announced Centurion American 500-acre Taylor Ranch project.”
The 3,200-acre Legacy Hills development has about four miles of frontage along the planned expansion of the Dallas North Tollway and is planned for 7,000 single-family homes.
The area just north of Celina has seen a series of land trades as single-family community development has ramped up in the area more than 40 miles north of downtown Dallas. Legacy Hills Developer Centurion American purchased Taylor Ranch, a 500-acre property west of Preston Road near the town of Gunter, in August.
The just-sold Platinum Ranch property is the latest property play along the tollway extension route. Glendenning said that the Grayson County tollway extension is scheduled for its opening in front of this property before the end of this year. He also said, “Although we have seen some hesitancy in the single-family sector of the market recently, we are witnessing a flight to quality and well-located land development positions.”
The Platinum Ranch buyer partnership includes investors Ravi Kollipara, Raj Veeramachaneni, Sudheer Babu Bagham, Srinivas Chad Gorrepati and Omkishan Maredu. The sale was handled by Glendenning and Rex Real Estate’s Caleb Lavey.