Five months and five days after Flower Mound’s first mixed-use project was approved by the town council, ground will officially be broken at Lakeside DFW on the northwest corner of FM 2499 and Lakeside Parkway in Flower Mound.
On April 24 at 5 pm, town officials, interested residents, builders, and developers will gather to celebrate the start of the 150-acre project overlooking Lake Grapevine that languished for decades before being zoned on November 19, 2012.
“This is a momentous occasion for the residents of Flower Mound who took the time to provide input and support for the project,” commented Jimmy Archie, managing director of Realty Capital Management, master developer of Lakeside DFW.
“And it is a testament to the hard work of town staff and officials who wanted to see this special piece of property developed in an exemplary way that would create a truly unique place to live, work, and play overlooking Lake Grapevine.”
“It took an incredible amount of work from so many,” Archie reflected, “but Lakeside is underway.”
Phase I of Lakeside will feature mixed-use buildings along two-tenths of a mile of Lakeside Parkway, single-family homes north of the parkway, and multi-family residences south of the parkway.
The mixed-use area will include six, two- and three-story buildings with 45,000 square feet of commercial space on the ground floors and 170 residential lofts above.
Approximately 170 single-family homes will be constructed by Darling Homes, American Legend Homes and Normandy Homes. Lot sizes will range from 30′ to 60′ in size and be priced from $300,000 to $700,000.
The multi-family buildings will be built by Greystar, one of the nation’s largest multi-family developers.
The wide range of housing options are expected to fulfill broad demand from demographics hungry for nearby shopping, dining, trails, and views of Lake Grapevine.
“Residents in Phase I will enjoy pedestrian-friendly connectivity to shops, parks, trails and restaurants,” Archie added. “In addition, the public spaces between the front four buildings could accommodate events like a farmer’s market, art festivals, and live music performances.”
At build-out, Lakeside’s planned 2,200 residences and 705,000 square feet of commercial space are expected to be valued at over $750 million.