Hankook Property Management, a partial owner of The Vista mall in Lewisville, is advancing plans to overhaul the struggling retail property into a contemporary mixed-use destination. The company acquired the mall’s interior portion in 2022, including the movie theater and the former JCPenney space, positioning it as a key stakeholder in the site’s future direction.
City officials in Lewisville have been actively engaged in the process, helping coordinate discussions between current property owners and prospective development teams that are evaluating a large-scale redevelopment of the Vista Mall property. Any proposal will ultimately require city approval, as a rezoning of the site would be needed once developers formalize and submit their plans.
Current performance at the mall underscores the need for change, with estimates placing vacancy between 30% and 50%. Against that backdrop, the emerging concept envisions a comprehensive repositioning of the site from a largely traditional retail center into a diversified mixed-use environment designed to attract both residents and visitors.
According to the planning framework described to date, the redevelopment program calls for more than 1,000 apartments integrated into the property, expanding the residential base on and around the mall site. The plan also includes approximately 34,000 square feet of office space, supporting daytime activity and potential employment uses within the project.
Retail remains a core element of the vision, with more than 600,000 square feet of retail space contemplated in the concept. This would reconfigure how shopping and services are organized on the property, while retaining a significant amount of retail square footage relative to the site’s current use.
Hospitality and for-sale residential product are also part of the redevelopment mix. The plan outlines a 120-key hotel component, which would bring lodging options directly to the property, and 120 townhomes, adding a for-sale residential alternative alongside the planned apartments. Open space is incorporated into the concept as well, with the goal of creating outdoor areas that support community use and improve connectivity across the site.
Public investment is already in motion to support the broader repositioning of Vista Mall. In a 2024 bond election, Lewisville voters approved $32 million for a public street infrastructure project serving the mall area. That commitment is intended to fund roadway improvements that would underpin the site’s transition and accommodate the traffic and access needs of a more intensive mixed-use layout.
