Realty Capital Management announced that the groundbreaking event for Phase I of Lakeside DFW at FM 2499 and Lakeside Parkway in Flower Mound will take place next Wednesday.
Town officials, residents, developers, homebuilders and commercial builders will celebrate on April 24 at 5 p.m. by moving the first dirt on what will become Flower Mound’s first mixed-use development on the shores of Lake Grapevine.
“This is a momentous occasion,” said Jimmy Archie, Managing Director of Realty Capital Management. “After 18 months of planning, design work, many meetings with residents and Town officials, Lakeside is finally underway.”
Phase I of Lakeside will consist of six, two and three-story buildings on the northwest and southwest corners of FM 2499 and Lakeside Parkway with 45,000 square feet of commercial space on the ground floors and 170 residential lofts on the upper floors of the buildings.
Approximately 170 single-family homes will also be a part of Phase I located north and west of Lakeside Parkway. Darling Homes, American Legend Homes and Normandy Homes will be offering a variety of floorplans with prices ranging from the low $300,000’s to the high $600,000’s.
Greystar, one of the nation’s largest multi-family developers, is also planning urban-style residences in Phase I on the south side of Lakeside Parkway. The residences should bring additional urban lifestyle opportunities to future Lakeside residents.
“Residents in Phase I will enjoy the convenience of pedestrian-friendly connectivity to shops, parks, trails and restaurants”, Archie said. “We have even incorporated parks between the front four buildings for events like a farmer’s market, art festivals, and live music performances.”
Phase I has seven new parks planned that will be open to the public and Lakeside residents.
In all, Lakeside is a 150-acre urban-style development next to the shores of Lake Grapevine planned with a variety of residential choices, lake-view restaurants, shops, cafes, hotels, a boardwalk and an amphitheater.
At build-out, Lakeside is planned with approximately 2,200 residences and 705,000 square feet of commercial space at a combined value of $750 million to $1 billion.