A Dallas real estate development and investment firm has broken ground on a new luxury apartment community in Celina.
High Park Capital announced this week that it has begun construction on The Depot, a 336-unit mixed-use development at East Ash Street and Preston Road.
The first residents are expected to move in around late 2025, with construction scheduled to be completed in early 2026.
Rents will be fully market rate and set at a pre-letting stage, which High Park Capital director Patrick McGee said is expected to begin in mid-2025.
The four-story complex will include a resort-style pool, a fitness center with a cardio loft and outdoor lawn yoga grounds, multiple work-from-home offices, a coffee bar and other amenities. Units will feature upscale finishes with deep soaking tubs and granite countertops.
The depot will be built on 9.1 acres in the Selina Station mixed development and will feature approximately 60,000 square feet of restaurant, retail and medical office space centered around a half-acre private park.
The site is also adjacent to the recently announced Owsley Park, a 30-acre linear park and trail system that will connect the depot to the downtown and entertainment district. Construction on Owsley Park is expected to begin in 2025.
The new project comes amid a population boom: Recently released U.S. Census Bureau estimates show Celina is the fastest-growing city in America among cities and towns with a population of 20,000 or more between July 2022 and July 2023.
Celina saw a 26.6% increase in residents over the past 12 months, a growth rate more than 53 times higher than the national growth rate of 0.5%.
“Celina led the nation in population growth last year, demonstrating a real need for quality housing options,” McGee said in a statement. “The High Park Capital team is excited to offer a luxury apartment community perfectly integrated into its surroundings with direct access to nearby restaurants, retail, parks and Celina’s downtown and entertainment districts. There is currently no community like this in Celina.”
