Flower Mound Town Council unanimously approved the development agreement with Green Brick Edgewood LLC during its Oct. 20 meeting. In an earlier meeting the same day, the town’s Tax Increment Reinvestment Zone No. 2 board unanimously approved the agreement, which will cover a projected $12.3 million in infrastructure projects.
What you need to know
Town officials plan to use impact fee credits and funds from Tax Increment Reinvestment Zone No. 2, which includes Brookview. A tax increment reinvestment zone, or TIRZ, has a base taxable value when it is created and the difference between the base taxable value and the growth in appraised property value is deposited into a tax increment fund to be used on qualified projects, according to the state comptroller’s website.
For Phase 1A and 1B of the development, there are around $12.3 million in estimated projects that qualify for funding, according to town documents, including:
- Building sections of Stonecrest Road and Denton Creek Boulevard
- Installing water and water reuse lines along constructed sections of Stonecrest Road and Denton Creek Boulevard
- Adding water lines along parts of the Union Pacific Railroad and FM 1171
Per town documents, Green Brick Edgewood LLC, which is a subsidiary of Green Brick Partners, will construct off-site improvements on the town’s behalf, including:
- Adding two lanes to Denton Creek Boulevard
- A right-turn lane from Canyon Falls Drive onto Denton Creek Boulevard
- Right- and left-turn lanes on Denton Creek Boulevard
- An 8-foot trail along part of Denton Creek Boulevard
- A 12-foot trail along part of FM 1171
How we got here
Flower Mound officials approved the creation of Tax Increment Reinvestment Zone No. 2 in November 2023, Rodriguez said. A final project list for the area was approved in March 2024, he added.
Council members unanimously approved Phase 1A for Brookview at the Oct. 6 meeting after the planning and zoning commission approved Phase 1B in September.
The initial phase of Brookview will include 453 lots, including 313 single-family homes and 140 townhomes. The development sits on nearly 240 acres in western Flower Mound.
Looking ahead
Rodriguez said lots for the development are set to be released to builders next August with the first home completed in October 2026.
Assistant Town Manager Tommy Dalton added that the town’s ordinances allow for early release lots after the sewer line is in place. These are called early release lots, which allow for vertical construction of homes, but homes could not be occupied until the subdivision is accepted by the town.
“From a timing standpoint, they are allowed to start construction of the home while the subdivision is ‘substantially complete,’” Dalton said. “Even though they might deliver those lots in August, the house is already halfway or three-quarters of the way built, so it brings that home to market sooner.”