Developer behind Flower Mound’s $2.2 billion Lakeside looks to grow development – Dallas Morning News

Developer behind Flower Mound’s $2.2 billion Lakeside looks to grow development – Dallas Morning News thumbnail

The master developer behind the 160-acre mixed-use Lakeside community in Flower Mound hopes to extend the project even further — to include all four corners of a key artery within the town.

Realty Capital Management LLC, a development firm based in Irving with nearly 200 projects in Texas and Colorado, is seeking to build out the northeast corner of Lakeside Parkway and FM 2499.

The new corner, which is approximately 21 acres, has been dubbed Lakeside East. Realty Capital purchased the land in 2022.

The firm plans to utilize the parcel for additional restaurants with patios, shops, services, 350 luxury residences with structured parking, a four-story office building and a hotel.

Other amenities span open spaces that will accommodate a music and entertainment plaza, an arts plaza that with interactive pieces, an activities plaza with games like cornhole and Jenga, and public trails.

Realty Capital is accepting recommendations from the public for retailers and restaurants it would like to see in the potential expansion, in addition to the types of businesses it should pursue for its tenant mix at the office component.

“We want the intersection of Lakeside Parkway and FM 2499 to feel well-planned and very intentional, and we want visitors to feel like you are supposed to walk across FM 2499 from one corner to the other and take it all in as one place,” said Jimmy Archie, managing partner for Realty Capital.

At completion, Lakeside is expected to have about 2,200 residences and 705,000 square feet of commercial space with a combined value of $2.2 billion.

Currently, the Mediterranean-inspired development includes more than 40 shops and restaurants, 260 single-family homes, nearly 1,300 multifamily units, 61 condominiums and 165,000 square feet of office space.

A key point of emphasis for Realty Capital in this expansion is to work out the walkability between the existing Lakeside grounds and the new corner.

During public meetings hosted by the developer, community members suggested a bridge across FM 2499 to safely walk from one side to the other.

The proposed Lakeside East use requires a zoning change from the town of Flower Mound, in addition to a master plan amendment. It received a recommendation of approval from the Flower Mound Parks Board on May 2.


Published by Dallas Morning News on May 15, 2024