The Flower Mound Town Council is conducting a work session on the Lakeside DFW application under the Mixed Use Ordinance at 6 pm on Thursday, April 19.

Officials from Realty Capital, the master developer of Lakeside DFW, will make a presentation.

The town staff will review the issues that remain with the application under the Mixed Use Ordinance and council members are expected to weigh in with questions of their own.

It will be the first opportunity for most citizens to hear first-hand the way in which a number of elected officials feel about the well-publicized project.

Residents of Flower Mound are welcome to attend.

For those wishing to come prepared, the packet for council members includes the following:

• Introduction (2 pages, 119 kb PDF)
• Zoning application (98 pages, 8 mb PDF)
• Attachments (14 pages, 367 kb PDF)

The attachments include a list of 54 items required for the application and their status as of March 20, as well as a matrix of 192 items related to the Master Plan and Mixed Use Ordinance.

 

In response to comments from town staff, a revised zoning application was submitted on March 13. <br>

Click to view the revised Lakeside DFW zoning application (8 MB pdf).

Officials from Realty Capital submitted the mixed-use zoning and Master Plan applications for the proposed $1 billion Lakeside DFW development after a cordial meeting on Feb. 22 with Mayor Melissa Northern and the town’s Economic Development Team (EDT).

With a projected assessed tax value at build-out of $750 million to $1 billion, Lakeside DFW would produce an estimated $10 million annually for the LISD and $5 million annually for Flower Mound.

The EDT meeting has been described as “an informal discussion with the Town designed to prevent developers from investing time and money in an application that does not meet the goals of the town.”

The Economic Development Team consists of the mayor, mayor pro tem, two P&Z commission members, and senior town staff.  Two council members attended the meeting, and two of the council members who were supposed to attend did not show up (preventing quorum and public participation).

The mayor asked a number of questions that demonstrated interest in the project.

The 103- page zoning application was submitted to the Town of Flower Mound on February 24.  (Click here to download the 8 MB pdf file.)

“We believe that this zoning,” wrote Jimmy Archie, managing director of Realty Capital  in the application’s letter of intent, would enable the development team “to promote and initiate development that is consistent with the vision and the mission of Flower Mound, preserving what is characteristic and adding amenities to enhance the quality of life.”

Archie also mentioned benefits to the Town ranging from internal trails and parks with lake views to “restaurants, retail business, offices, and housing, which will help to generate increased tax base and sales tax revenue.”

“Our intention,” Archie added, “is also to create a development of lasting beauty, of architectural and artistic merit, and appropriate to the location and the land.”

The application provides for nine separate mixed-use zones, each designed to match uses to the particular parts of the site (e.g., the intersection of FM 2499 and Lakeside Parkway and the property with the best ground-floor lake views).

The document referenced the vision statement of the Town of Flower Mound, the Master Plan, the SMARTGrowth Program, andthe Mixed-Use Ordinance.

The letter concluded by saying: “In comparing the impact of the proposed development with the current zoning, we believe that a mixed-use development would drive more economic activity, create less overall traffic, provide more public amenities, and offer more place to spend leisure time, and be far more appreciated by the residents of Flower Mound.”

For more reporting on this story, see the story in the Flower Mound Leader and the story in the Cross-Timbers Gazette. The story also was covered by the Dallas Business Journal, Fort Worth Business Journal, and CBS-TV 11.

On February 24, Realty Capital submitted to the Town of Flower Mound a zoning application for the Lakeside DFW property. (Click here to download the 8 MB pdf  file.)

The details of the plan will be reviewed and negotiated with the Town staff in the coming weeks before public hearings at Planning & Zoning and Town Council.

For more reporting on this story, see the story in the Flower Mound Leader and the story in the Cross-Timbers Gazette. Additional coverage was provided by the Dallas Business Journal and CBS-TV 11.