A revised plan to expand the Lakeside Village development in Flower Mound has received approval from the town council after initial concerns about density led to a previous denial. Realty Capital Management, the developer behind the $2.2 billion, 160-acre mixed-use project, initially proposed a 21-acre addition that included 350 luxury apartments, a four-story office building, and a hotel. The proposal faced resistance from residents and was recommended for denial by the zoning commission in March before being tabled by city council in April.
In response to community feedback, Realty Capital submitted a scaled-down $160 million plan known as “Lakeside East.” This version reduces residential density by about two-thirds compared to the original proposal and includes 132 townhomes, a hotel, 43,000 square feet of retail space, multiple plazas, and a public nature trail. The Flower Mound City Council unanimously approved this revised plan earlier this month.
The town also approved an economic development agreement that will provide just over $5 million to Realty Capital over seven years to support the hotel and retail components of Lakeside East.
Jimmy Archie, managing director of Realty Capital, commented on the changes: “The lower density improved community buy-in, even if it reshaped the project’s economics.”
Construction on Lakeside East is scheduled to begin next summer with completion expected the following year. Retail and restaurant leasing for the new section is being managed by Jake Sherrington of Shop Companies.
The overall Lakeside Village project is already approximately 80 percent complete. It currently features 40 shops and restaurants, nearly 1,100 garden-style apartments, more than 250 single-family homes, a hotel with over 200 rooms, condo units, and significant office space. Realty Capital recently completed construction on a parking structure and is planning additional amenities such as a wedding venue and Marriott Autograph Collection hotel within an expanding entertainment district. Once finished, Lakeside Village will include around 2,200 residences and roughly 705,000 square feet of commercial space.
