Sunset Legacy LP, a partnership between the Peter P. Stewart family of Dallas and Realty Capital of Irving, is developing the area.
Lakeside Village will also follow the vision of Peter P. Stewart, who purchased the land more than 45 years ago. He died in 2018.
“He always envisioned this property as having tall buildings,” his son, Peter B. Stewart, said at the groundbreaking.
The property is expected to have up to five towers as well as lofts over retail spaces and villas for residential living.
The tall buildings will give residents and those who work in the area views of the preserved area of nature by Grapevine Lake, Realty Capital Managing Director Jimmy Archie said. The development also includes plans for a 16-mile bike and hike trail as well as an amphitheater.
“The vision is to create a place that lifts the spirits by a celebration of nature,” Stewart said. “Man and nature can coexist if mutual respect is paramount.”
The project is expected to take several years to be fully built out, with construction of the main infrastructure taking roughly a year, as previously reported by Community Impact Newspaper.
Editor's note: This post has been corrected to show that the development is located on Lakeside Parkway. In addition, Peter B. Stewart is president of Sunset Legacy, the landowner.