Even prominent developer Mehrdad Moayedi and his firm Centurion American Development Group are facing challenges with their Iron Horse Village project in Mesquite. The Mesquite City Council has postponed approval for the installation of a 30-foot sign at the development, citing concerns about vacant retail space and a lack of high-end amenities.
Centurion American, based in Farmers Branch and led by president and CEO Moayedi, sought to install the sign as a way to attract more tenants to Iron Horse Village. The mixed-use project spans 54 acres and includes 138 single-family homes, 198 townhomes, and 26,000 square feet of unfinished retail space. Construction began in 2019 after the city granted a public improvement district, but commercial development on an additional 10 acres is still pending.
Despite these efforts, city officials remain skeptical. Council member Jeff Casper stated during the council meeting that the developer “supremely overpromised and underdelivered” regarding promises of quality retail for the site. He added: “My bigger issue with Centurion in this particular development is the idea that we were going to get retail and top-level restaurants, and what has ended up happening is fast service, a car wash and a built shopping center that has sat vacant while all the homes have been built.”
Edge Realty Partners is responsible for leasing the retail space at Iron Horse Village. Perla Tavera, controller for Centurion American, explained that attracting tenants has proven difficult and said they believed installing the sign would help bring more interest from potential retailers.
The city council’s decision signals it wants clearer signs from Centurion American that it will prioritize bringing higher-quality amenities to Iron Horse Village before approving further requests from the developer.
Centurion American is recognized as a significant force in North Texas real estate with experience in large-scale land acquisitions and master-planned communities since its founding in 1990. The company claims completion of over 100,000 single-family lots across various projects. Its future plans include building more than 4,000 homes at Alpha Ranch along Highway 114 north of Fort Worth as well as other major developments such as Legacy Hills in Celina and Cottonwood in Grayson County.
