A 35-acre mixed-use development is headed for Prosper following zoning approval by its town council last week.
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Prosper Arts District, developed by Krishna Nimmagadda of Capitalize Ventures and designed by Gensler, will be at the northwest corner of the Dallas North Tollway and Prosper Trail. It will feature three district hotel concepts, 515 multifamily units, an extensive retail village and green space, according to a news release.
“Our goal was to honor Prosper's rich agrarian history, reflecting its early 1900s origins and the legacy of its people and businesses,” Gensler principal Barry Hand said in a statement. “By integrating local architectural elements with Capitalize Ventures' visionary approach, we aim to redefine mixed-use living and community engagement in North Texas.”
Construction on the four-phase development will kick off later this year. The first phase is expected to take about two years to complete and will include infrastructure, a sports-focused hotel, a parking garage and retail.
PEOPLE
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LEASES
Alpha Insulation & Waterproofing renewed a 25K SF warehouse lease at Creekview 121, Building 4, 301 Leora Lane in Lewisville. Joe Santaularia, senior vice president and managing partner of Bradford Commercial Real Estate Services, represented the tenant. Bob Hagewood and Eric Crutchfield of Stream Realty Partners represented the landlord, EastGroup Properties.
SALES
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CONSTRUCTION AND DEVELOPMENT
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