Capitalize Ventures set up a partnership to purchase the almost 36-acre site at the northwest corner of the Dallas North Tollway and Prosper Trail.
The new owners are planning a mixed-use development with about 150,000 square feet on the property, which is near the Star Trail community.
“This mixed-use upscale development will be in the middle of the path of growth north of U.S. Highway 380,” Scott Rodgers, a real estate broker with DuWest Realty who is working on the project, said in a statement. “It is strategically located close to the Jerry Jones family-developed Star Trail neighborhoods and surrounded by other new residential, health care and commercial developments that are going vertical rapidly in Prosper, Frisco and at the tollway.”H-E-B for a new supermarket.
“This is a high-profile addition to the $200 million land portfolio that Capitalize has in North Dallas and Austin markets, and we are very excited about the potential this location will provide for our development goals,” a Capitalize Ventures spokesman said in a statement. “We could not have asked for a better location for our future mixed-use development that will meet the high development standards and strategic vision that Prosper Economic Development Corp. and the town of Prosper have.
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