A Dallas real estate development and investment company has broken ground on a new luxury apartment community in Celina.
HighPark Capital has begun work on The Depot, a 336-unit complex at East Ash Street and Preston Road, the firm announced this week.
The first residents are expected in late 2025 or thereabouts, and construction is projected to be completed in early 2026.
Rents will be entirely market rate, and will be set during the pre-leasing phase. Pre-leasing is expected to begin in mid-2025, said Patrick McGee, director at HighPark Capital.
The four-story complex will include a resort-style pool; a fitness center with a cardio loft and an outdoor turf yoga lawn; multiple work-from-home offices; a coffee bar; and other amenities. The units will feature high-end finishing touches with deep-soak bathtubs and granite countertops.
The Depot will sit on 9.1 acres in the Celina Station mixed-use development, with roughly 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 Ousley Park — a 30-acre linear park and trail system connecting The Depot to downtown and the entertainment district. Construction of Ousley Park is expected to begin in 2025.
The new project comes amid a population boom. Between July 2022 and July 2023, Celina was America’s fast-growing city among cities and towns with a population of at least 20,000, according to recently released U.S. Census Bureau estimates.
Celina had a 26.6% increase in residents during those 12 months. Its growth rate was more than 53 times higher than the nation’s growth rate of 0.5%.
“Celina led the nation in population growth over the last year, which demonstrates a real need for quality housing options,” McGee said in a statement. “The HighPark Capital team is excited to deliver a high-end apartment community that is truly woven in with its surroundings, offering direct connectivity to neighboring restaurants, retail, parks and Celina’s downtown and Entertainment District. There is currently nothing like it in Celina.”
