For Lakeside chonology see Lakeside 1994 Denied

NOTE:  These articles are from 2012.  SMARTGrowth Criteria for school had been removed removed because Lakeside failed it.  In December 2013, the council approved more apartments for lakeside.  No public access to Lake Grapevine (a public lake) has since been provided, which was initially promised.  In 2015, the council approved even more apartments along FM2499 for Southgate and higher density for Highland Court.

 

Dallas Morning News / November 18, 2012 / Wendy Hundley

Flower Mound mixed-use project heads for council vote

       (NOTE: "Lakeside DFW Approved" /Nov 20 follows this article) 

 

          FLOWER MOUND — Peter P. Stewart was dove hunting with friends more than 40 years ago when he first trod the woods and farmland along Grapevine Lake’s eastern shore.  He was impressed by the natural beauty of the landscape and the dramatic sunsets reflected on the water.

          “That’s what started it off,” he reminisced Friday, as he walked along a crest of a hill overlooking the lake where he and his family now own 155 acres known as Lakeside DFW.

          At age 92, Stewart, one of the founders of Dallas’ Thanks-Giving Square, hopes to see the property begin to transform into a pedestrian-oriented, mixed-use development.

          The Flower Mound Town Council is scheduled to vote Monday on the project designed to provide a mix of retail space, offices and residences linked by trails, parks and public amenities.

          The proposed project has drawn supporters and critics who agree that Lakeside DFW could change Flower Mound. But they disagree over whether it will be for the better or the worse.

          Supporters say it will bring more shopping, dining and housing options for residents, add to the tax base and create a unique gathering area.

          Carol Kohankie, who has lived in Flower Mound for more than 30 years, said Lakeside DFW would bring a first-class project to the town’s underdeveloped southern border.

          “Over the years, we’ve wanted and requested high-end restaurants … we’ve gotten second-tier,” Kohankie said at the Nov. 12 meeting of the Planning and Zoning Commission, which recommended approval of mixed-use zoning.

          Officials with Realty Capital Management, developers of the property, say the built-out $750 million project would generate annual tax revenue totaling $5 million to $6 million for the town and $10 million for the Lewisville school district.

          It could take 10 to 15 years to complete all phases.

          But some residents are concerned about the residential density and the impact of 25-story towers. They also fear the ambitious plan will never fully materialize and the town will be left with a glut of apartments, traffic and crowded schools.

          If the project fails, “we’ll get Lakeside apartments instead of Lakeside dining and shopping,” resident Kevin Lewis told the commissioners.

          A study commissioned by the town found that multifamily structures, gas stations, grocery stores and single-family homes are the most likely market opportunities at the site.

          “Commercial uses will likely lag these others somewhat and, considering the project’s ‘in between’ location, may struggle without a sense of ‘destination’ and ‘place’,” stated the report done by Market Feasibility Advisors, LLC, in partnership with Gateway Planning.

          Jimmy Archie, managing director of Realty Capital Management, acknowledges that the site lacks frontage on a major highway or access to a commuter railway like other area mixed-use projects.

          But he said the site offers other assets: a quick commute to Dallas/Fort Worth International Airport; access to FM2499, an improved arterial roadway; and, of course, a million-dollar view.

          “What all these other developments don’t have is the lake,” Archie said.

          A year ago, he said, Flower Mound residents were asked to help create a concept plan for the project.

          Public meetings and surveys revealed that residents wanted a place that would provide lake view dining, sites where they could enjoy the scenic vistas, and ample trails for walking and biking.

          Archie said that’s when public amenities were added to the project: a boardwalk, observation deck and a 1,000-seat amphitheater overlooking the lake.

          Mayor Tom Hayden said he believes that most residents support the project.

          But, he added, town officials share concerns voiced by critics and are trying to address them in a development agreement that will be part of the package the council will vote on Monday.

 

According to the agreement that was released late Friday afternoon:

          No building permits will be issued for any multifamily structures before permits for four commercial buildings at the entrance to the project at FM2499 and Lakeside Parkway.

          Construction of the amphitheater, boardwalk and observation deck is tied to permits for residential development.

Mayor Pro Tem Kendra Stephenson, who served as a council liaison on the project, said she feels the agreement addresses the concerns of residents.

          “We all feel strongly about protecting residents and making sure this development comes to fruition,” Stephenson said.

 

Lakeside DFW build-out projections

 

RESIDENTIAL

Single-family homes: 248 ($375,000 to $1.2 million)

Condos (25- and 18-story buildings): 460 ($600,000 to $1.5 million)

Condos over commercial: 223 ($250,000 to $600,000)

Townhomes: 50

Rental lofts over commercial: 484

Apartments: 735

Total: 2,200

 

COMMERCIAL

Retail: 400,000 square feet

Restaurant: 120,000 square feet

Office: 380,000 square feet

Total: 900,000 square feet

SOURCE: Realty Capital Management

Dallas Morning News / November 20, 2012 / Wendy Hundley

Lakeside DFW approved as Flower Mound’s first mixed-use project

 

          Construction may begin next year on Flower Mound’s first project approved under the town’s mixed-use ordinance.

          Lakeside DFW, approved Monday by the Flower Mound Town Council, will lend an urban feel to the bedroom community and provide public space overlooking Grapevine Lake.

          “This is something completely different for Flower Mound,” council member Jean Levenick said of the pedestrian-oriented project to be built on a 155-acre tract along Lakeside Parkway near the town’s southern border.

          Lakeside DFW is designed to provide a mix of retail, office and residential spaces linked by trails, parks and open spaces.

          Under a development agreement with the town, a boardwalk, an observation deck and a 1,000-seat amphitheater will be built overlooking the lake and will be open to the public.

          “It’s been a long time and a lot of work has been put into this,” said Jimmy Archie, managing director of Realty Capital Management, developer of the project. “We’re thrilled to move on to the next stage.”

          The site plan and plat applications will probably be submitted to the town in the first quarter of 2013.

          If approved, construction may begin on the first phase in the summer and take two to three years to complete.

          Archie said the first phase will include commercial space at the entrance of the project, two public plazas and some multifamily and single-family homes.

          The project is expected to take 10 to 15 years to complete.

          Some residents have raised concerns about the height of some buildings and multifamily density, and questioned whether the project will ever be completely built.

          “Jimmy, you better do the whole thing,” quipped Mayor Tom Hayden before the mixed-use zoning request was approved unanimously.