Realty Capital moves forward with development of Lakeside Village

Construction is set to begin on Lakeside this spring. (Rendering courtesy Realty Capital)

Construction is set to begin on Lakeside this spring. (Rendering courtesy Realty Capital)

Realty Capital is moving forward with the development of Lakeside Village after securing funding for infrastructure to support the $1.5 billion mixed-use project, which is set to be built along Lake Grapevine.

Sunset Legacy LP, a partnership between the Peter P. Stewart family of Dallas and Realty Capital of Irving, closed Nov. 22 on a $41 million loan with First United Bank for infrastructure funding, according to Rebecca Everitt of Realty Capital.

Construction on the infrastructure is slated to begin in March or April, Everitt said. The infrastructure includes lakeside trails, an amphitheater, streets, sidewalks, landscaping, utilities and an underground parking garage.

Everitt said construction of the infrastructure is expected to take a year to complete and that residents can expect vertical development to begin in that same time frame, though it will take several years until the development is fully built out.

Realty Capital moved to secure a private loan for the development after Flower Mound Town Council decided last summer not to establish a tax reinvestment zone, or TIRZ. The zone would have helped to fund the infrastructure needed to move forward with Lakeside Village. A TIRZ is a form of financing that captures growth in property tax value of a certain area and uses that captured value to fund improvements within that area.


The 40-acre Lakeside Village will consist of a mixture of retail spaces, restaurants, offices and residences and will also host three hotels, according to Realty Capital. The development is the final phase of the 165-acre Lakeside DFW mixed-use project.
By Anna Herod
Anna Herod covers local government, education, business and the environment as the editor of Community Impact Newspaper's Lewisville/Flower Mound/Highland Village edition. In the past, Anna served as the reporter for Community Impact's San Marcos/Buda/Kyle paper. Her bylines have appeared in the Austin American-Statesman, Hays Free Press and The Burleson Star. She is a graduate of Texas State University's School of Journalism and Mass Communication.


MOST RECENT

Scott Palmer administers a COVID-19 vaccine shot to a Roanoke police officer. (Sandra Sadek/Community Impact Newspaper)
Vaccination hubs open in Plano, McKinney Fire Dept. and more DFW-area news

Read the top stories from the past week from the Dallas-Fort Worth area.

Aspire Nutrition opened Dec. 9 in Highland Village. (Community Impact staff)
Aspire Nutrition now operating in Highland Village

The business serves healthy shakes, energizing teas and coffees, and other products for pre- and post-workout routines.

Scott Palmer administers a COVID-19 vaccine shot to a Roanoke police officer. (Sandra Sadek/Community Impact Newspaper)
2 vaccination hubs to open in Plano; BigShots Golf coming to Fort Worth and more DFW news

Read the latest business and community news from the Dallas-Fort Worth area.

In Denton County, the number of beds occupied by confirmed COVID-19 patients remained near 200 after trending down from its recent peak. (Community Impact staff)
Tracking COVID-19: Hospitalized population, still high, shows early sign of decline in Denton County

Nearly 200 patients with COVID-19 were being treated in Denton County hospitals as of Jan. 20, but that number was starting to trend downward for the first time in months.

Grizzly Burger House's menu includes the Hawaiian cheeseburger and more. (Courtesy Grizzly Burger House)
Grizzly Burger opens in Richardson and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area.

In addition to vaccine hubs, there are also smaller community vaccine providers throughout Texas, such as pharmacies, that may also have the vaccine available. (Eva Vigh/Community Impact Newspaper)
EXPLAINED: When, where and how Texans can receive the COVID-19 vaccine

As Texas is still in the early stages of rolling out the COVID-19 vaccine, many Texans are still unsure about where, when and how they can get inoculated.

Philly Pretzel Factory opened its doors in December in Flower Mound. (Courtesy Philly Pretzel Factory)
Philly Pretzel Factory opens doors in Flower Mound

The store serves pretzels, pretzel dogs, philly cheesesteaks and an assortment of other related food items.

Chicken-fried steak and eggs ($11.99) are served with hash browns and Texas toast. (Courtesy The Cottage)
The Cottage eatery opens in Roanoke and more DFW-area news

Read the latest business and community news from the Dallas-Fort Worth area.

Feeding Texas hosted a Jan. 19 webinar to discuss legislative highlights for the 87th Texas Legislature. (Screenshot courtesy Feeding Texas)
Food insecurity in Texas' 87th Legislature: Hunger relief organization Feeding Texas to propose legislation addressing hunger

Hunger relief organization Feeding Texas hosted a webinar Jan. 19 to discuss increasing funding and accessibility for the Supplemental Nutrition Assistance Program in the 87th legislative session.

Three Highland Village City Council races will be on the ballot in May. The filing period ends Feb. 12. (Ally Crutcher/Community Impact Newspaper)
Who's filed to run: Highland Village City Council races on the ballot in May

Voters in May will decide races for three seats on the Highland Village City Council.

Two Lewisville ISD trustee spots will be on the ballot for the May elections. The deadline to file is Feb. 12. (Daniel Houston/Community Impact Newspaper)
Who's filed to run: 2 spots on Lewisville ISD board of trustees

The candidate filing period is open through Feb. 12 for Places 1 and 2 on the Lewisville ISD board of trustees.

The city of Lewisville's population grew by more than 7% from 2014-19. (Daniel Houston/Community Impact Newspaper)
Who's filed to run: Lewisville City Council seats up for grabs as May elections approach

Two Lewisville City Council races—including one for the mayor's seat—will be on the ballot as the city prepares for its next round of municipal elections in May.