Prosper, a growing town in Texas, has recently approved the zoning for Prosper Arts District – a 35-acre mixed-use development project worth $300 million. Capitalize Ventures is leading this venture with Gensler as the design firm.
Strategically located at the northwest corner of Dallas North Tollway and Prosper Trail, Prosper Arts District will feature three unique hotel concepts, 515 multi-family units and an expansive retail village centered around a planned water feature.
With entitlements and zoning now finalized, the four-phase development of this project is set to commence later this year. The first phase will focus on planning and designing essential infrastructure such as waterways, roads and walking paths. This phase also includes construction of a sports-focused hotel along with parking facilities and extensive retail spaces; expected to be completed by late 2026. Subsequent phases will add more multi-family units along with two additional hotels and various retail offerings. This ambitious project aims to create over 400 full-time jobs while generating economic impact worth more than $1 billion for the region.
The article “Prosper Greenlights $300M Arts District Venture” was originally published on Connect CRE’s website.
