FLOWERMOUND (WBAP/KLIF) – The Flower Mound Town Council has unanimously approved two rezoning requests that are expected to pave the way for Lakeside Village, the next piece of the Lakeside DFW project.
When it’s finished, the 35-acre tract will continue the mixed-use concept and will add approximately $1 billion in taxable value, which translates into over $4 million in revenue for the Town of Flower Mound. The Realty Capital project is located to the south of the current Lakeside DFW development, overlooking Grapevine Lake.
“Balancing our tax base and adding amenities residents want has always been a long term goal of this Council and with tonight’s vote, we were able to achieve both in a project that will make a positive impact on our Town,” said Flower Mound Mayor Tom Hayden. “Since 2012, we remain committed to the sustained success of both Lakeside DFW and now the future prosperity of Lakeside Village. I look forward to seeing this project take shape and spending time there with my family.”
Realty Capital representatives first began the planning stages for Lakeside Village in 2012, and received resident feedback requesting restaurants overlooking the lake as well as plenty of usable public spaces. Lakeside Village is slated to have up to seven restaurants with lakeside views, in addition to an outdoor music performance area, extension of the Town’s trail system, commercial office space, a boutique hotel, high-end residences, and a potential performing arts center.
“Tonight the Town Council reasserted its commitment to see Lakeside DFW develop into the destination that we envisioned six years ago,” said Place 2 Councilman Bryan Webb. “With any project, but especially one of this size, it is expected that changes and modifications would be required. Realty Capital brought forth proposals that reflected the initial vision, addressed concerns of current residents, and provided a well thought out and controlled plan to achieve the Lakeside vision. I am proud that tonight the Town Council reaffirmed the decision from 2012 and provided a path forward for this important Flower Mound project.”
When combined with Lakeside DFW, the entire mixed-use development will be approximately 155 acres.
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