Officials on Tuesday morning ceremonially broke ground on Lakeside Village, a mixed-use development encompassing about 35 acres in south Flower Mound overlooking Grapevine Lake.
Lakeside Village, a partnership between the Peter P. Stewart family of Dallas and Irving-based Realty Capital, is located to the south of the Lakeside DFW mixed-use development and will add $1.5 billion in taxable value.
When complete, it will contain up to seven restaurants with lake views, an outdoor music performance area, commercial office space, a boutique hotel, a wedding chapel, high-end residences, and additional trails.
“The vision is to create a place that lifts the spirits by a celebration of nature, ” said Stewart. “Lakeside Village is designed to be an authentic, 21st century, walkable village. A place to leave your car as soon as possible.”
Realty Capital representatives first began the planning for Lakeside Village almost 10 years ago, and used residents’ ideas to help shape their vision. Some of the ideas they included were restaurants with a lake view and having lots of usable public spaces.
“You hear names like Southlake Town Square, Legacy Town Center, Las Colinas … that’s what Lakeside Village is going to be,” said Jimmy Archie, managing director of Realty Capital. “This is a hidden gem… not many folks even know what we have to offer out here. But once the project is developed I can assure you that everybody in DFW will see Lakeside Village up there with those names as a legacy institutional development.”
Infrastructure construction is anticipated to take 12 months to complete, with restaurants possibly opening in 2022.