Prosper Town Council members approved rezoning for a new mixed-use development during their Aug. 22 meeting.
The development, named Pradera, will be spread out on 34.7 acres along the Dallas North Tollway, according to a meeting presentation. A development agreement for Pradera was also approved during the Aug. 22 meeting.
Plans for Pradera include 730 multifamily units, which will bring the area to the maximum number of units allowed in Prosper’s comprehensive plan, Bristol said.
“It would be very difficult to move forward on further multifamily zoning until things happen to change the zoning that we have and the units that are already allocated and on the ground,” Bristol said.
Other features of the development include office space, retail space and a hotel, according to meeting documents.
The gist
Pradera was last discussed at council’s Aug. 8 meeting, when it was tabled. Since then, multiple changes had been made before the Aug. 22 meeting, Prosper Development Services Director David Hoover said.
“There were quite a few things that were added as a result of the last conversation that went on at the last council meeting,” Hoover said.
Some of the changes include:
- Lowering the maximum height for the office buildings from 12 stories to eight stories
- Removing lettering from the sides of some of the development’s central five-story buildings
- Setting the maximum height for townhomes at three stories
“It’s been a very, very long process,” Bristol said.
The details
A timeline for the development was also presented during the meeting.
- August 2023: zoning awarded
- 2024-26: infrastructure construction both on- and off-site
- 2026-29: townhome construction
- 2027-30: retail buildings No. 1 and No. 2 construction
- 2030-32: apartments and town square construction
- 2032-35: hotel construction
- 2035-36: southwest corner retail pad site construction
- 2035-38: condo buildings No. 1 and No. 2 construction
- 2038-40: office building No. 1 construction
- 2040-42: boulevard retail pad site construction
- 2040-43: office building No. 2 construction
Construction on the development is expected to be finished in January 2043, according to a meeting presentation.
“It’s roughly a 20-year project,” Hoover said.
