More Population Triggers More Housing in Celina
The city’s population has nearly doubled since 2010; currently estimated to be approximately 11,000 people, and single-family development, Chalk Hill, is expected to accommodate some of that growth.
CELINA, TX—The city’s population has nearly doubled since 2010 and is currently estimated to be approximately 11,000 people. To accommodate some of that growth, another single-family development, Chalk Hill, which consists of 157 of a 440 planned lots, will be located at the southeast corner of Preston Road and County Road 102 in Collin County.
Dallas-based Trez Capital recently closed a $10 million loan to MM Chalk Hill LLC, an affiliate of Centurion American. The loan will finance the first phase of the Chalk Hill development.
“The city of Celina is booming and the Chalk Hill residential development will positively impact the area’s growth,” John D. Hutchinson, president of Trez Capital, tells GlobeSt.com. “We work with property developers and owners in Texas and beyond looking for projects that fuel economic growth, and we are confident Chalk Hill will do just that. It is ideally located near major employment hubs in Collin County that are continuing to see corporate relocations and expansions. We are pleased to be a part of this growth as a result of the financing we are providing to help fund the first phase of this project.”
Chalk Hill will sit between the major arteries of Preston Road and the future Dallas North Tollway in Celina. Residents of Chalk Hill will be a short drive to the major employment hubs of Plano, Frisco and McKinney.
“Trez is pleased to play a key role in bringing to market a premier residential project in one of the strongest housing markets in the country,” said Hutchinson. “We look forward to continuing to provide capital resources to fund a variety of real estate projects.”
Since 2012, Trez Capital has provided more than $600 million in commercial real estate financing for the DFW region and more than $1.7 billion nationwide. Trez Capital offers flexible short- to mid-term financing for new residential communities, completed residential lots, multifamily developments, hospitality real estate and income properties.