Centurion American Development has purchased a large tract of land in Celina with plans to build a mixed-use project.

The 168 acres that just sold is west of Preston Road on the route of the Dallas North Tollway extension.

“This tract adjoins the highly successful Light Farms master planned development,” said real estate broker Rex Glendenning with Rex Real Estate who arranged the sale. “The property is located at the southeast corner of the Dallas North Tollway and the planned Collin County Outer Loop.

“Centurion’s plans include retail-commercial development, as well as apartments and townhomes, which should be an easy 15 minute commute back to Legacy Business Park and its growing new employment base,” Glendenning said.

Centurion has already has projects in the area including Creeks of Legacy, Sutton Fields and Ownsby Farms.

Glendenning brokered the land sale with Marty Neilon and David Glasscock with CBRE.

Celina is one of the fastest growing communities in Collin County with new housing.

Centurion American is one of the largest suburban land developers in North Texas.

The company had come under scrutiny recently because of its ties to United Development Funding, a local finance firm that is being investigated by federal authorities.

Centurion is also the developer of the historic Statler Hotel project in downtown Dallas.