Lewisville City Council members heard plans during their Oct.18 work session about a proposal to develop retail, restaurant and office spaces on about 25.7 acres at the corner of I-35E and FM 407 that is currently owned by the city.
The developer, Terrence Maiden of Dallas-based Russell Glen Company, proposed buying the land from the city to create a multi-use development to be named The Hamptons. It could include between 8-11 restaurant spaces–both fast food and sit-down restaurants–three office spaces, three potential retail spaces, a hotel and a larger retail space designed for a grocery store, according to the presentation.
The plan also includes several green spaces surrounding the plot, with a pavilion in the center. The center green space would allow for outdoor concerts and patio outdoor dining space, while outer grass areas could hold outdoor activities such as yoga classes and adult swings, Maiden said.
Lewisville purchased the land earlier this year for $9.25 million to preserve city leaders' vision for that area. It is part of the Northern Gateway, where the city has chosen preferred uses for a group of properties generally bounded by I-35E, McGee Lane and the railroad tracks to the south.
