Flower Mound will soon touch I-35W, and a large development along the frontage road could have a pair of home improvement centers, two big box stores with attached fuel centers, restaurants and residential communities.
Part of the development process included a land swap with the Town of Argyle, which was approved by Flower Mound town council Monday.
With the swap, more than 62 acres of land will go from Flower Mound to Argyle and a little more than eight acres will be sent from Argyle to Flower Mound.
About four of the eight acres received by Flower Mound will be developable, but the town expects it to be used for extra detention that would allow the approximately 200-acre mixed use Monarch Development to attract a fifth big box retail store.
“This would be an integral component of the Monarch application, allowing the developer to gain more large, commercial retail,” said Flower Mound Assistant Town Manager Tommy Dalton.
According to Dalton, most of the land swap was based on the floodplain, which he said acts as a nice natural barrier between the two towns.
Most of the 62 acres going to Argyle will be not be able to be developed because of its position within a major floodplain, and it is basically inaccessible to Flower Mound.
So, the land would be donated to Argyle on the condition they use it for dedicated parkland, open space or public facilities with minimal lighting.
The small three-acre piece of land going from Flower Mound to Argyle along I-35W is north of the floodplain, so Flower Mound would have had to build a bridge to access it, which Dalton said would not be worth the effort.
Instead, Argyle will be able to use it as a detention pond and the developer will therefore be able to use more land for their development.
“Our developer is getting the benefit of more developable land,” said Argyle Town Manager Mike Sims. “They won’t have to take up room with onsite detention, rather use the land within Flower Mound’s Monarch development.”
If for some reason Argyle attempts to develop something like an apartment complex on the donated land, the town of Flower Mound would be able to deny the plan because it violates the conditions of the swap.
Argyle approved the land donation, but will have to approve the boundary change at its Sept. 21 council meeting to make the swap official.
“I think this is an opportunity for us to make small-scale enhancements,” said Sims. “Parks and open space provide property value increases and [developments in the area] can benefit long-term from having a nature preserve out there.”
For Flower Mound, the small tract of land opens the door for the large mixed-use Monarch development to build a fifth big box retail.
“We’re bending over backwards to get this land swap done,” said Mayor Pro Tem Adam Schiestel. “With inflation and legislature, this is a huge tailwind for us for sales tax generation.”
According to Jonathan Kerby with Kimley Horn engineering firm, Texas Department of Transportation plans to improve I-35W frontage road and an interchange along the Monarch property within the next two years, which has attracted tenants to Monarch.
The town approved changes to Monarch’s planned development to allow two planned home improvement centers to have outdoor storage and seasonal sales items outside, among other requests.
Kerby said the announcement of the approved I-35W improvements by TxDOT has already led to a big box retailer in the town’s permitting process.
The council also approved the possibility of three gas stations in the development, revealing that two big box retailers are expecting to build with fuel stations attached.
Another part of the development is the residential component, which includes a section of 250 townhomes (reduced from 290) that are expected to range in price from the high $500,000s to high $700,000s.
Various ponds, trails and a pocket park are expected to also be a part of the development.
Denton Creek Blvd. will go east to west through the heart of the development and eventually touch I-35W, as will Monarch Parkway going north and south.
Other requests from the developer include a retaining wall behind one of the home improvement centers to hide any outdoor storage from the pond area and any nearby restaurants.
The Monarch development is expected to bring an influx of sales tax revenue for the Town of Flower Mound, and allow the town to access its only highway frontage along the booming I-35W corridor.
“It makes commercial sense and makes sense for our residents,” said Mayor Cheryl Moore.
