Flower Mound Town Council members discussed the proposed Furst Ranch mixed-use development at a virtual work session last Thursday evening.
Furst Ranch, at Hwy 377 and FM 1171 in west Flower Mound, is projected to include 2,800-3,000 single-family homes, 500-600 townhomes, 750-800 condominiums and 4,000 apartments as well as schools, a senior living complex, corporate offices, a hotel, and retail and dining options over the course of 20-25 years.
“About 15 years ago I said if I live long enough this will become the western gateway to Flower Mound,” said ranch owner Jack Furst as he addressed the council. “The time is here. We have been working very hard over the last two years to prepare this idea to bring it to you to make it a reality.”
Most of the property is in the town of Flower Mound, but some portions are in the extraterritorial jurisdictions of Argyle and Bartonville. Furst said he is asking those towns to agree to change borders so that the entire property is in Flower Mound.
The ranch is located in the Argyle Independent School District, and school sites will be a part of the development.
Furst is partnering with developer Hines on the vision for Furst Ranch, which includes a variety of districts, including single-family neighborhoods of varying density, with parks, trails and amenities. The entire development will be connected via a trail system, with open space throughout.
In an interview last August, Furst estimated that the entire development is “a $3-5 billion build, with a tax base generating $2-3 billion” in revenue over the first 20 years. The major infrastructure costs are estimated at $320 million, and the creation of both a Public Improvement District (PID) and Tax Increment Reinvestment Zone (TIRZ) “is critical to developing the infrastructure of Furst Ranch.” The PID would require authorization by Town Council and a vote by Flower Mound residents, and the TIRZ can be created by Council.
“This is a true partnership with the community; Argyle schools, Town of Flower Mound, CoServ, Denton County,” said Bobby Dollak, vice president of McAdams, the civil engineering firm working with Furst. “We’re going to be very open and interactive as we have been through the process.”
No action was taken by council at the work session, and many meetings between the developer and the town’s various boards and commissions will take place over the coming months.
“This project is going to go through a formal lengthy public process,” said Assistant Town Manager Tommy Dalton.