The project is set to go before Prosper Town Council on Oct. 14 after the Planning and Zoning Commission approved a rezoning request at its Sept. 15 meeting.
What you need to know
The developer is seeking to rezone the property from its current agricultural and planned development designations to a planned development that would allow mixed-use.
The 61.7-acre development will be located off First Street and Legacy Drive, according to town documents.
The development, aimed to be a walkable community, is set to include:
- Neighborhood subdistrict
- 435 multifamily units, which may include some retail space on first floors
- 88 townhome units
- 249 assisted living units
- Retail subdistrict
- Full-service hotel
- Restaurants
- Retail shops
- Office buildings
- Amphitheater
What changed
Previously, commissioners and Town Council members held work sessions in May to address concerns and make changes to Bella Prosper’s plan. According to town documents, the changes include:
- Reducing multifamily units from 550 to 435 and townhome units from 94 to 88
- Removing a planned second hotel to add more restaurants and retail
- Improving design features, including changing streets in the townhome section and redirecting the assisted living building and hotel to face the amphitheater
Alexa Knight, representative for the developer with Daake Law, said the mixed-use project is valued at over $300 million.
“It’s a huge economic benefit to the town of Prosper moving from a piece of raw dirt to a development like this,” Knight said.
Commissioner Sekou Harris said he does have some concerns about the building process, specifically that the townhomes will be part of the first building phase, which includes restaurants, retail and townhomes.
“My only concern is the ... phasing of the townhomes being built to the retail because once the retail is built, that’s something the entire town can enjoy and can use,” Harris said. “The sooner that we have something that the town and the people of the town are able to use, the better.”
Commissioner Josh Carson said he likes the mixed-use concept and would also like to see the retail and assisted living components go up faster in the development.
“I think some of the design standards are a little bit looser than I would prefer, but I don’t think it’s worth holding up a ... good quality development that’s good for the town,” Carson said.
Looking ahead
If approved, building construction is set to take place between 2027-2035, according to town documents.
The item will go before Town Council at its Oct. 14 meeting.
