Developers plan to start construction this summer on a $1.5 billion community north of Dallas that will include 2,400 homes.

Called The Parks at Wilson Creek, the 720-acre development will be between Coit and Custer roads in Celina. The housing development is on the path of Collin County’s planned Outer Loop.

The community is a project of Dallas-based Cambridge Cos., which already has sites for thousands of homes under development in Celina.

“Celina is one of the hottest submarkets in D-FW,” Matt Alexander, Cambridge vice president, said in a statement. “We now have 7,300 lots to develop in this booming city.

“Homebuyers keep moving north, and we are committed to the same thoughtful design, beautiful lakes, landscaping, exceptional outdoor spaces and amenities found in our other communities.”

Homes in The Parks at Wilson Creek will range from the mid-$300,000s to more than $700,000.

The first phase of The Parks at Wilson Creek will include sites for 358 homes to be built by David Weekley Homes, Highland Homes, Perry Homes and Tradition Homes. The first model houses will open in early 2023.

The community will include a 100-acre public central park with sports fields and an amenity center.

Cambridge kicked off its development program in Celina in 2016 when it started the 1,239-acre Mustang Lakes community. Its 639-acre Cambridge Crossing community started construction in 2018.

Cambridge has sold 1,000 home sites in Celina so far.

“Celina is one of the most dynamic new home growth markets in D-FW,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “Over the past year, the annual start rate for new homes has grown 74% to 2,414 houses.

“The Parks at Wilson Creek is positioned to benefit from the construction of the east-west Outer Loop roadway, which will provide future residents with excellent access to Preston Road and the Dallas North Tollway.”

Twitter: @SteveBrownDMN