Centurion American Development Group has acquired the 629-acre Rio Claro project in north Fort Worth, marking another major investment in the area’s growing residential market. The Farmers Branch-based company, led by developer Mehrdad Moayedi, purchased the property from PMB Capital Investments for an undisclosed amount.
The Rio Claro community is located southeast of Morris Dido Newark and Bonds Ranch roads near Eagle Mountain Lake. While city approvals in 2022 allowed for up to 1,900 homes on the site, Centurion American has revised plans to include 1,761 single-family homes built across four phases. Homes will be constructed by Coventry Homes, D.R. Horton, First Texas Homes and HistoryMaker Homes on lots ranging from 50 to 80 feet wide.
Construction of the first phase is expected to begin in early 2027. IBC Bank is providing financing for the development.
Moayedi commented on the strong demand driving this expansion: “Fort Worth’s explosive population growth is driving suburban housing demand.”
This acquisition increases Centurion American’s presence in north Fort Worth. The firm is also planning Alpha Ranch, a separate 1,825-acre community along Sendera Ranch Boulevard that could eventually bring about 4,000 homes to the region. Nearby developments such as Estates at Eagle Mountain—a planned subdivision with over 1,100 lots—are contributing to rapid residential growth around Eagle Mountain Lake.
To address infrastructure needs tied to new housing developments and rising congestion, Fort Worth officials are considering a $200 million plan to widen Bonds Ranch Road and make other road improvements in the corridor. National homebuilders like Lennar and D.R. Horton already have several projects underway nearby.
Since its founding in 1990, Centurion American has developed more than 200,000 home lots throughout North Texas. Notable projects include Collin County’s Legacy Hills—a master-planned community spanning over 3,200 acres—and redevelopment of Plano’s former Collin Creek Mall.
