Real Estate

Realty Capital Plans 21-Acre Expansion in Flower Mound

Realty Capital to expand Lakeside community in Flower Mound with 350 luxury residences and mixed-use developments.

By Tal Alexander

5/16, 18:09 EDT
article-main-img

Key Takeaway

  • Realty Capital plans to expand its Lakeside community in Flower Mound with a 21-acre development, including 350 luxury residences and commercial spaces.
  • The expansion, Lakeside East, aims for community engagement with public trails, open spaces, and seeks public input on retail and office components.
  • Flower Mound's population growth fuels development surge, with Lakeside's full build projected at $2.2 billion value including up to 2,200 residences.

Expanding Horizons in Flower Mound

Realty Capital is set to broaden the scope of its Lakeside community in Flower Mound, Texas, with an ambitious expansion plan that underscores the burgeoning demand for mixed-use developments in suburban settings. The proposed Lakeside East expansion, covering 21 acres at the northeast corner of Lakeside Parkway and FM 2499, is poised to introduce 350 luxury residences, a four-story office building, a hotel, retail spaces, and a parking garage into the already thriving Lakeside community. This initiative reflects a strategic move to cater to the growing population of Flower Mound, which has seen a 3.8 percent increase to approximately 78,800 residents from 2020 to 2023, according to the Texas Demographic Center.

A Vision for Community and Connectivity

Lakeside East is designed to be more than just a collection of buildings; it aims to foster community engagement through public trails, open spaces, and venues for entertainment, arts, and activities. The existing Lakeside community, with its Mediterranean-inspired architecture, already boasts over 40 shops and restaurants, alongside a diverse range of housing options and significant office space. Realty Capital's vision for Lakeside East is to seamlessly integrate this new development with the existing community, enhancing walkability and creating a cohesive, intentionally planned environment. This approach not only aligns with modern urban planning principles but also responds to the desires of residents for a connected and engaging living space.

The Broader Implications of Suburban Development

The expansion of the Lakeside community by Realty Capital is indicative of a larger trend in suburban development, especially in areas north of Dallas-Fort Worth like Flower Mound. The push towards mixed-use developments in these regions reflects a shift in consumer preferences towards communities that offer a blend of residential, commercial, and recreational spaces. This trend is further evidenced by other notable projects in the area, including Jack Furst’s 1,066-acre community and Thompson Realty Capital’s 50-acre mixed-use development. These projects, much like Lakeside East, aim to meet the growing demand for integrated living experiences outside of traditional urban centers.

A Reflection on Suburban Growth and Sustainability

The planned expansion of the Lakeside community raises important questions about the sustainability of suburban growth and the future of mixed-use developments. While these projects offer the promise of integrated and community-focused living, they also require careful planning and consideration of their environmental and social impacts. The emphasis on public input for Lakeside East, particularly regarding the selection of retailers, restaurants, and office businesses, suggests a commitment to creating a development that truly serves the needs and desires of the community. However, as Flower Mound and similar suburbs continue to grow, it will be crucial to balance development with the preservation of natural spaces and the promotion of sustainable living practices.

Management Quotes

  • Jimmy Archie, Realty Capital:

    "We want the intersection of Lakeside Parkway and FM 2499 to feel well-planned and very intentional, and we want visitors to feel like you are supposed to walk across FM 2499 from one corner to the other and take it all in as one place."