Thompson Realty Capital, LLC, in partnership with Trez Capital, announced plans for a new 50-acre mixed-use development located at the southeast corner of FM 2499 and Lakeside Village Parkway in the town of Flower Mound. The first phase of the project includes a four-story, 200-unit, garden-urban mix, multifamily community and 15,000 square feet of retail with space for three restaurants, as well as a 60,000-square-foot office building with one level of underground parking. The development will include approximately 20 acres of public parks, open space and more than 2.5 miles of trails on site.
The multifamily community will feature stainless steel appliances, elevators, faux hardwood floors and top-of-the line finishes. It will also include a private fitness center, concierge services, resort style pool and a community dog park.
This project is a part of Trez Capital’s joint-venture partnership program which provides experienced developers like Thompson Realty Capital with equity financing for value-add and ground-up developments in key markets with strong population, employment and GDP growth.
McAdams will handle civil engineering and landscape architecture for the project. Other architects for the mixed-use project include: Cross Architects – multifamily; GSO Architects – retail; and Alliance Architects – office. Bill Dahlstrom of Jackson Walker served as the zoning attorney.
Thompson Realty Capital and Trez Capital have seven other multi-family projects currently under construction in Texas totaling 2,100 units.
The new development is within proximity to Grapevine Lake, has direct access to FM 2499 and is only 5.3 miles from DFW Airport. The property is scheduled to break ground in Fall 2022 with phase one completion slated for 2022.