The developer is taking over an effort that was once set to bring townhomes, multifamily buildings, restaurants, retail stores and office space to the heart of what the city of Lewisville calls its Northern Gateway, according to First Commercial Realty, the firm that arranged the sale. While the plans are subject to change, whatever goes there would be accessible to residents of Lewisville and nearby Highland Village.
The land in question represents more than one-tenth of the Northern Gateway study area. It was purchased by a subsidiary of Centurion American, the developer behind Flower Mound’s Riverwalk at Central Park, Dallas’s Statler Hotel and Plano’s Collin Creek Mall redevelopment, among others.
Hundreds of apartment units have been approved in recent weeks for other properties in the Northern Gateway, and hundreds more units are currently under construction.
The land in the Northern Gateway is held by a number of property owners, the city said in a 2015 city study.
In a framework plan developed in 2015, the city of Lewisville laid out broad priorities to guide developers within the Northern Gateway, a triangular area bounded by I-35E to the east, McGee Lane to the west and the train tracks south of Justin Road.
Read the city's plan for the Northern Gateway area, which was adopted in 2015, below.