The city of Lewisville intends to buy a large piece of undeveloped land off I-35E to prevent warehouse developers from deviating from the city's Northern Gateway vision for the area.
Lewisville City Council on Feb. 1 authorized the city manager to purchase the land southwest of where I-35E meets Justin Road for a cost of nearly $9.3 million. The city intends to sell the property to a master developer at a later date, which would help it recoup the costs of the purchase, according to a staff memo.
Officials described the land purchase as “critical” for the success of the Northern Gateway, a city development plan that outlines preferred uses for a collection of properties bounded on three sides by I-35E, McGee Lane and the rail tracks to the south.
“The purchase of the property will accommodate and secure the city’s long-term vision for the Northern Gateway and provide the city the opportunity to work with developers to implement that vision,” City Manager Donna Barron wrote in a letter to council members before their vote.
