Celina eyes 113-acre land trade with Prosper ISD

In exchange, the city would receive roughly 107 acres of land off Smiley Road from landowner Merritt/Thornton Farm, a partnership tied to the nearby Mosaic master-planned community developed by Tellus Group. Ranc said the property could be combined with nearby land to create a park totaling about 296 acres.

Additionally, PISD would give Tellus Group their property at the intersection of Teel Parkway and Parvin Road for a future single-family home development, Ranc said.

“What we find compelling about this trade is we are able to trade 113 acres of parkland for about what essentially becomes 296 acres of parkland,” Ranc said.

He said it would be a simultaneous swap, and the district would also pay the city of Celina $2 million. In addition, PISD and the city will pay their own closing costs and attorneys’ fees associated with the trade.

The land Celina would receive, referred to as the Merritt property, would come with deed restrictions that limit its use to a park and prohibit development for three years, according to meeting documents.

One more thing

Celina Mayor Ryan Tubbs said in a social media post the land swap could be finalized within the next few months, while park construction would be dependent on future bond funding.