November is Arts Month in Flower Mound! That means it’s a very fitting time to talk about the fact that the Town is in the process of designing a performing arts center to be located on 3.67 acres of Town-owned land within the River Walk development. This center will serve as a hub for arts, cultural and creative programing within our community.
The facility, which will be located at 4200 River Walk Drive, could include amenities such as a main stage theater, flexible performance spaces, multipurpose rooms, classrooms, administration and support spaces, a gallery and exhibition space that can host rotating shows and receptions, as well as outdoor spaces that provide opportunities for gathering, performances and connectivity to the River Walk trail system and neighboring restaurants and retail locations.
At our Oct. 6 meeting, Town Council approved the pre-design phase services, which means our contractor, Hoefer Welker + BORA Architects, is now working on visioning and goal setting, space programming, conceptual design, benchmarking tours, community engagement, site plan/master plan and more. While this is an exciting step, let’s take a moment to look back at the history of this project because this is something this Town Council, past Town Councils and staff have been discussing for quite some time.
The Town selected the River Walk area due to its central location and the fact that the original River Walk developers had envisioned a public outdoor amphitheater in the area. This did not come to fruition by the developer, and the area changed hands. So, in 2024, the Town purchased a currently undeveloped site in the River Walk from the current landowner. In June 2025, after a thorough review and interview process, a selection committee of Town and Denton County representatives selected the team of Hoefer Welker + BORA Architects from 28 firms that applied to design the center.
So, how are we budgeting this endeavor? The Town also decided to extend the Tax Increment Reinvestment Zone No. 1 (TIRZ #1) to fund the center. I know, I know… what the heck is a TIRZ?!
A TIRZ is an economic development tool used by municipalities to finance public improvements in certain areas. When a TIRZ is created, it establishes a “base taxable value” for a designated geographic area (or “Zone”), and over time, some of the incremental increase in ad valorem property taxes from that area are allocated to a TIRZ Fund. Essentially, a snapshot is taken of what the property taxes are for that area at the specific moment of the TIRZ creation. And the Town then records that number as the “base taxable value.” Each year, within the Zone, the property taxes collected from the base taxable value continue to be deposited into the Town’s general fund, as well as the portion of new value not dedicated to the TIRZ. As properties in the Zone develop and increase in value, the taxable value within the Zone will rise, generating a higher increment beyond the base taxable value. This incremental value is then used to calculate the property taxes to be deposited into the TIRZ Fund, based on a Town designated participation rate. Those TIRZ property taxes can only be used for projects directly benefiting the Zone, often including infrastructure, facade programs, landscaping, streetscaping or practically any type of public enhancements to the Zone.
TIRZ #1 consists of approximately 1,465 acres with the FM 2499 corridor, and ad valorem tax revenues collected above the base value established in 2005 go toward funding proposed improvement projects in the Zone over a 20-year period. However, in November 2024, Council extended the term of TIRZ #1 for an additional five years (until 2030). And then in December 2024, the TIRZ #1 agreement was amended and approved with Denton County, which also deposits their TIRZ increment into the fund each year.
Extending TIRZ #1 for five years will generate an estimated $50 million. The estimated cost of the performing arts center will be contingent on the design, but we do expect for it to be fully funded by TIRZ #1, including all design and pre-construction costs.
Ok, I’m running out of space here – but you can learn so much more about the history of this project, next steps, and how TIRZs work at flowermound.gov/artscenter. We’ll also use that page to let you know about upcoming public engagement opportunities where you can give your feedback and input into the design of the center. You can even sign up on that page to be directly emailed whenever we schedule another public meeting or have an update on the project.
I am so excited to see how this center takes shape and the impact it will have on our community. While the timeline is subject to change, of course, we are hoping the facility will be open in spring 2029. I’m sure I’ll be providing updates on these pages as things progress. Thanks for reading!
