The details
For individuals entering town from Grapevine, the area serves as the “southern porch” into Flower Mound, Town Manager James Childers said.
“It's pretty big to be able to develop those spaces and have that front door to Flower Mound,” Childers said.
Jimmy Archie, a managing partner at Realty Capital, Lakeside East’s developer, said the updated proposal accounts for community feedback, such as density and traffic concerns.
“I appreciate Jimmy for working with us to remove the multifamily to address our concerns on the density,” council member Chris Drew said. “This is a vastly improved project.”
The Class-A office space within Silveron Park is expected to be “highly desirable” because of its proximity to restaurants and residences, Director of Economic Development Ray Watson said.
“It is important because that keeps the money here in Flower Mound,” Watson said. “When somebody leaves to go to lunch, they're not going outside of Flower Mound.”
The impact
Watson said that despite other proposals that fit the area’s base commercial zoning, town officials have held out for higher quality developments.
Flower Mound officials said they hope the development will boost the town’s daytime population since many leave the area for work.
“When you don’t have that during the day, it’s hard for a restaurant to stay open for lunch,” Watson said. “Then for the few businesses or residents here that want to eat lunch, there you have less offerings."
The full-service hotel within Lakeside East is also expected to expand the town’s supply of hotel rooms and increase associated hotel occupancy tax revenues to the town. Officials said they plan to use hotel occupancy tax revenues for festivals, such as Fall into Flower Mound, that draw visitors.
“We're trying to supply [business travelers] with the product that they need, and also to supply the town with that product, because currently we only have two hotels, and those stay fairly full,” Watson said.
Additionally, local business owners and nearby residents, such as Clayton Flurry, support the Lakeside East expansion, saying it would be an upgrade over what current zoning allows.
“I live a quarter of a mile or less from Lakeside East,” Flurry said. “The last thing we want is another strip mall.”
Going forward
Future development in Lakeside Village and Lakeside west of FM 2499 includes another residential tower and Marriott Autograph Collection hotel, Archie said.
“You want to avoid too many lulls when you’re trying to build a place like this,” he said. “You want there to always be activity showing progress towards the finish line.”
Further phases of Silveron Park will include retail and restaurant uses and office space.
"It brings exactly what we want to Flower Mound: quality restaurants, office [and] a hotel,” Drew said.
