Developers announced this week their plans for a 50-acre mixed-use development in south Flower Mound with apartments, restaurants, office space, parks and more.
Thompson Realty Capital, in partnership with Trez Capital, said in a news release that the development will be located at the southeast corner of FM 2499 and Lakeside Village Parkway. The property is scheduled to break ground in fall 2022 with phase one completion slated for early 2024.
The first phase of the project includes a four-story, 200-unit apartment building with 15,000 square feet of retail space and room for three restaurants, as well as a 60,000-square-foot office building with one level of underground parking. The development will include about 20 acres of public parks and open space, and more than 2.5 miles of trails.
“After more than four years and numerous site designs, Flower Mound’s planning and zoning commission approved the project plan, and we will ensure we deliver a new mixed-use destination district that meets the town’s vision,” said Taylor Field, CEO of Thompson Realty Capital. “This is our first project in Flower Mound, and we are excited to create a new gateway to the area and to the Lakeside District that will provide a unique live, work, play environment for residents.”
The apartments will feature stainless steel appliances, elevators, faux hardwood floors and top-of-the line finishes, according to the news release. It will also include a private fitness center, concierge services, resort-style pool and a community dog park.
“With more than 25 years of experience in acquisition, development and property management of multi-family, office and single-family residential projects, Thompson Realty Capital is the perfect partner on this project, and we look forward to launching our ninth joint-venture project with them,” said John Hutchinson, vice-chairman and global head of origination of Trez Capital. “Flower Mound is a growing area which is just one of the many reasons this is an ideal location for a new mixed-use development.”
McAdams Co. will handle civil engineering and landscape architecture for the project. Other architects for the mixed-use project include: Cross Architects – multi-family; GSO Architects – retail; and Alliance Architects – office.
“We have a great working relationship between all our companies. Our commitment to the community and quality will benefit not only our companies, but also the people and town of Flower Mound,” said Bobby Dollak, McAdams Dallas-Fort Worth region vice president.
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