Developers of a Flower Mound mixed-use project are planning a residential high-rise.
Irving-based Realty Capital has been working almost a decade on the $1.5 billion Lakeside Village development on Grapevine Lake. The 40-acre project will have shops, restaurants, offices and residences. It’s the last phase of the 165-acre Lakeside DFW development on Long Prairie Road.
Realty Capital recently completed a $75 million, 16-story condo tower in Lakeside Village. Homes in the project originally started at more than $750,000.
Now the developer is working on plans for a second residential tower.
The 16-story, $110 million building would be constructed starting this summer at 2800 Lakeside Parkway, according to planning documents filed with the state. The residential tower was designed by Merriman Anderson Architects and would open in 2024.
Called Terranea, the building is designed for over 200 residences. Realty Capital managing director Jimmy Archie confirmed the plans for the Lakeside Village tower and said a formal announcement would be coming soon.
The Flower Mound building is one of several high-rise residential projects on the way in North Texas.
More than 42,000 apartments were under construction in the D-FW area in the first quarter.
