A North Texas developer known for some of the region’s biggest projects has bought sections of the Bayside development on Lake Ray Hubbard.
Mehrdad Moayedi’s Centurion American Development Group purchased land in the Rowlett project on Interstate-30 for two residential projects.
In the works for more than five years, the 262-acre mixed-use development on the lake was originally planned to include everything from high-rise hotels to apartments and single-family homes.
The centerpiece of the $1 billion project was an 8-acore Crystal Lagoon waterpark to be built on the shore of Lake Ray Hubbard.
But after changes in ownership, Bayside has so far not met those ambitious plans. Parts of the project have been rechristened Sapphire Bay by the City of Rowlett.
Centurion American Development has purchased four acres in two tracts across the freeway from where the Crystal Lagoon is being built.
“This is on the north side