The Furst Ranch development promises to be one of the most intensive projects in the Dallas-Fort Worth area in the coming years, officials said. It would bring $3.3 billion in improvements to more than three square miles of farmland straddling Cross Timbers Road and US 377.
A sprawling hub of retail stores, restaurants and pubs would center around a planned lake district, according to materials from the developer. Land is also being set aside for new schools to serve area residents.
Town officials and engineers working with the developer behind the project have said they expect the build-out to take roughly two decades.
Furst Ranch developers have already submitted preliminary plans to the town. Portions of the development within Flower Mound are expected to necessitate amendments to the town’s master plan, new mixed-use zoning rules for the property and town approval of the concept plan.
The developer is also expected to ask the town to establish a public improvement district and a tax increment refinancing zone. The town may also seek to annex unincorporated portions of the property.
“Although those are the major ‘components’ to the project, the actual process is quite involved and requires review and consideration by multiple boards,” town spokesperson Molly Fox said.
The earliest portions of approval are expected to begin in the spring, Fox said.
Correction: A previous version of this post misidentified one of the roadways near the project. That roadway is US 377.