“Mixed-use developments [are] limited but growing,” Browning said. “The demand is outpacing supply.”
The big picture
District 9 council member Misty Spears said that since its inception, Stone Oak has cultivated a high quality of life for its residents.
“It's a beautiful area, and I've watched it grow,” Spears said. “[The neighborhood] went from being nothing out here—[just] ranches—[to what it is now] and it’s still growing. It’s been changing for a while, but it's maintained itself as being one of the top places to live because of the quality of life,” Spears said.
However, future growth needs to include spaces for small businesses and new job opportunities, Spears said. To fill this need, a new mixed-use development along Canyon Golf Road is in the works.
Debra Morris, owner of Providence by the Green, said her upcoming development is designed to offer local residents an urban destination.
The building combines an angular, minimalist design with expansive glass walls overlooking Canyon Springs Golf Course. The 15,800-square-foot multiuse facility will include retail, dining and event spaces. Morris said it will feature a community lounge and a rotating pop-up room that will highlight artisans throughout the community.
“[Providence by the Green] will offer more options in one destination,” Morris said.” [it’s] a place of entertainment with an urban vibe that I feel Stone Oak is looking for,” Morris said.
A closer look
Morris said she was inspired to create Providence by the Green when she visited the Source Market Hall in Denver in 2019. She noticed Stone Oak was lacking a walkable destination that features a variety of venues and event spaces for the community to gather around.
Ben Burke, project manager from WestEast Design Group, said it’s a development centered around community above everything else.
“The key driving force for this project is community,” Burke said. “It's all about having a space for [them] to come to.”
Providence by the Green includes six lease spaces and Morris envisions a mix of restaurants, dining and event spaces complimented by seven terraces overlooking the golf course.
Morris said the space will be ideal for small gatherings and larger, corporate events.
“We would love to see the typical baby showers or birthdays or corporate lunches,” Morris said. “We've talked about different community events that we would also love to host, [such as] book clubs [and] wine tastings.”
By the numbers:
- 15,800-square-feet
- 4 retail spaces
- 2 dining spaces
- 1.6-acre property
Taking a step back
With a median age of 39 and median income ranging from $65,000-$85,000, it skews older and wealthier than the city average, according to the U.S. Census Bureau.
“For residents, the attractiveness of Stone Oak includes top-rated schools and master-planned developments,” Browning said.
The background
Browning said Stone Oak’s housing inventory has modestly increased since the post-pandemic peak of 2021-22.
“The uptick in inventory has given buyers more negotiating power, yet demand remains steady,” Browning said.
As of 2024-25, a single-family home in Stone Oak ranges in price from $375,000-$750,000, while luxury homes in gated communities range from $850,000 to over $1.5 million.
Browning said over the last five years, properties have averaged a 5-7% annual increase in value, and generally sell faster than older central neighborhoods. Typically, homes are sold within a 30-60 day window.
Though single-family homes are the primary type of residence, Browning said townhomes and upscale apartments are gaining traction due to rising demand. Additionally, Browning said future land constraints will reshape how projects are developed.
“Within the next 5-10 years, Stone Oak will remain a top-tier submarket, though land constraints will shift focus to redevelopment and vertical construction,” Browning said.
Stay tuned
Burke said Providence by the Green is expected to be completed in early-to-mid October.
Morris said talks are in the works with several different companies, so the building can open to the public as soon as possible.
Providence by the Green timeline:
- First conceived of Providence by the Green 2019
- Property went under contract in October 2020
- Purchased property June 2021
- Morris partnered with WestEast Designs in April 2021
- Groundbreaking Sept. 30, 2024
- Construction complete October
- Estimated opening November
