Prosper Town Council approved a partnership with developers to bring the Prosper Arts District to downtown with a 5-1 vote during a June 11 council meeting. Member Chris Kern voted in opposition.
The details
Prosper Arts District will be a 35-acre mixed-use development at the northwest corner of the Dallas North Tollway and Prosper Trail.
The district will feature three hotel concepts, 515 multifamily units and an extensive retail village centered around a water feature, according to a June 18 Gensler and Capitalize Ventures news release.
Architecture and development companies Gensler and Capitalize Ventures, which is based in Frisco, will both contribute to the project.
The project will start its four-phase development later this year, according to the release. Phase 1 will focus on planning and designing the overall infrastructure, including waterway features, roads and walking paths, as well as introducing a sports-focused hotel, a parking garage and retail.
This phase is set for completion in late 2026, according to the release.
Subsequent phases will introduce additional multifamily units, two more hotels and additional retail offerings, according to the release.
What they are saying
“We meticulously curated Prosper Arts District with insights from the planning and zoning commission and the Town Council of Prosper, supplemented by feedback from our future neighbors. We look forward to unveiling the creative hotel brands and retail partners that will join us in this venture," Capitalize Ventures developer Krishna Nimmagadda said in the release.
"Our goal was to honor Prosper's rich agrarian history, reflecting its early 1900s origins and the legacy of its people and businesses. By integrating local architectural elements with Capitalize Ventures' visionary approach, we aim to redefine mixed-use living and community engagement in North Texas. The Prosper Arts District will seamlessly blend residential, commercial and recreational spaces to create a vibrant, interconnected environment for all," Gensler's Principal-in-Charge Barry Hand said in the release.
