The partnership formed between Centurion American and key stakeholders marks a significant milestone in the initiation of the transformative MRW Development project within the Dallas-Fort Worth metroplex. This visionary endeavor encompasses two expansive sites, spanning 85 acres in Westlake, Texas, and 19 acres in Flower Mound, Texas. Upon completion, the development aims to offer an extensive range of amenities, including hotels, independent living facilities, restaurants, amphitheaters, office and mini-storage spaces, retail outlets, event centers, villas, and ample parking, with a remarkable total construction area of 1,053,022 square feet.
The Dallas-Fort Worth metroplex, renowned for its thriving business ecosystem, houses over 200 corporate headquarters and 18 Fortune 500 company headquarters. The MRW Development project is strategically located within 20 miles of the DFW International Airport, further enhancing its accessibility and appeal.
With a total investment of USD277 million, the MRW Development project has garnered significant financial support. The developer has invested USD107 million, with over USD17 million contributed by the government, and HGC, along with other limited partners, investing a total of USD150 million. Construction commenced in February 2015, financed by Public Improvement District (PID) Bonds, and is expected to conclude in November 2018.
Centurion American, an established leader in community master planning and development since its founding in 1990, will spearhead the MRW Development. With over 20 years of experience, Centurion American has successfully developed more than 15,000 acres of land, including over 10,000 upscale villas in North Texas.