The town of Prosper recently approved the zoning for the 35-acre, mixed-use development, Prosper Arts District.
Located at the northwest corner of Dallas North Tollway and Prosper Trail, the Prosper Arts District will feature three distinct hotel concepts, 515 multi-family units and an extensive retail village centered around a planned water feature.
"We meticulously curated Prosper Arts District with insights from the planning and zoning commission and the Town Council of Prosper, supplemented by feedback from our future neighbors,” Developer Krishna Nimmagadda said. “We look forward to unveiling the creative hotel brands and retail partners that will join us in this venture."
With entitlements and zoning finalized, the project's four-phase development is set to begin later this year. Phase one will concentrate on planning and designing the overall infrastructure, which includes waterways, roads and walking paths. This phase will introduce a sports-focused hotel, a parking garage and extensive retail spaces, with completion expected by late 2026. The following phases will add more multi-family units, two additional hotels and exceptional retail offerings.
Architecture and design firm Gensler, in partnership with visionary developer Nimmagadda of Frisco-based Capitalize Ventures, are spearheading the project. Capitalize Ventures land portfolio spans Frisco, Prosper, Celina, Round Rock and Mustang Ridge, covering industrial, retail, commercial, residential and multi-family projects. Gensler is a global architecture, design and planning firm with 55 locations and 6,000 professionals across the Americas, Europe, Greater China, Asia Pacific and the Middle East.
"Our goal was to honor Prosper's rich agrarian history, reflecting its early 1900s origins and the legacy of its people and businesses,” Gensler's Principal-in-Charge, Barry Hand said. “By integrating local architectural elements with Capitalize Ventures' visionary approach, we aim to redefine mixed-use living and community engagement in North Texas. The Prosper Arts District will seamlessly blend residential, commercial and recreational spaces to create a vibrant, interconnected environment for all."
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