In lake/airport ‘burbs, long drives normal
With 60,457 vehicles per day passing by The Shops at Lakeside in Flower Mound, retailers here are expected to be positioned to attract patrons from what some studies say is the most affluent region in North Texas (click here).
“For most people in Flower Mound (and other communities north and west of the lake), FM 2499 is part of their daily routine,” said Jimmy Archie, managing director of Realty Capital, master developers of Lakeside DFW.
“It’s the way they get to work and many of their regular activities,” Archie added. “They won’t have to go out of their way to frequent The Shops at Lakeside.”
Yet the location on FM 2499 also offers access to a far larger audience.
Just three miles northwest of the intersection with SH 121, The Shops at Lakeside can be accessed easily from all of the lake/airport communities (see map below).
And in this part of North Texas, this kind of access can (excuse the pun) go a long way, especially with an affluent crowd that is willing to go to great lengths (sorry) to get what they want.
“In our surveys and in our conversations,” said Archie, “residents in the suburbs near the lake and airport frequently mention that they enjoy the restaurants at Legacy, Uptown, and Bishop Arts.”
Mobility between the communities north of the airport (especially Southlake, Colleyville, Grapevine, and Flower Mound) was significantly improved by the completion of the $1 billion, first phase of the DFW Connector project last year.
And TxDOT has not stopped there.
Now phase two, costing $90 million, is underway to improve mobility between Flower Mound and the flyover with SH 121. The project will lower all through lanes of FM 2499 below grade at Grapevine Mills Mall to avoid the traffic signals. Completion is scheduled for 2017.
“That will help so many drivers traveling in and out of Flower Mound,” smiled Archie, “including those coming to grab a bite to eat and see a film at The Lakeside Moviehouse and Eatery.”
(The Austin location of The Moviehouse and Eatery attracted 379,000 visitors in 2013.)
Retailers also are expected to benefit from a daytime population that includes the workforce in the Lakeside Business District, guests at nearby hotels as well as patrons of the golf courses and recreational facilities (e.g., the Northshore Trail).
The Shops at Lakeside are slated to open in the fall of 2014.
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