Developers aiming to erect a new mixed-use development in Prosper have been given the green light by town authorities.
Leaders unanimously approved the new venture known as Pradera during a town council meeting last week.
Located north of Prosper Trail and west of Dallas Parkway, Pradera will span 34.7 acres and house residential units, commercial spaces, offices, and a hotel, according to council documents.
David Bristol, the mayor of Prosper, said that this development will include 730 multifamily units, meaning that there will have to be some zoning changes in the coming months.
“It would be very difficult to move forward on further multifamily zoning until things happen to change the zoning that we have and the units that are already allocated and on the ground,” said Bristol, according to Community Impact.
This item originally appeared before the town council during its meeting on August 8; however, some residents had voiced their opposition to the development, and it was tabled.
Since then, the planning for the development has undergone multiple changes and amendments. Bristol described these efforts as a “very, very long process.”
As explained by David Hoover, Prosper’s director of development services, the adjustments were multifold, according to Community Impact.
They entailed setting three stories as the maximum height for townhomes in the area, lowering the height of the planned hotel from 12 stories down to just eight, removing lettering from the sides of some of the five-story buildings in the center of the development, and more.
Pradera won’t be fully built until 2043, with construction expected to be spread out across the next two decades, according to Hoover.
The timeline for the project presented at the recent town meeting showed infrastructure work beginning next year and running through 2026.
Some residential spaces will be built first, with townhome construction slated for 2026 through 2029. Retail spaces will start being built in 2027 and wrap up in 2030, followed by work on new apartments and a town square in the following two years. The hotel’s construction will begin in 2032, and upon its completion in 2035, the focus will shift between retail, residential, and office spaces across the lot.
This is not the only multi-use property being developed in the area. Old Prosper Partners acquired over 1,000 acres for another project featuring many of the same amenities, as previously reported by The Dallas Express.
As reported on extensively by The Dallas Express, despite substantial investment across North Texas, most demand is moving to high-opportunity, easy-to-develop areas outside Dallas city limits, such as Prosper. Part of this shift is likely due to the City’s lengthy development process, which is prone to delays.