Prosper, Texas – In a seminal decision, the Prosper Town Council has sanctioned the zoning prerequisites for an ambitious 35-acre development project, christened “Pradera.” This expansive venture will not merely incorporate multifamily residential space, but will also pave the way for a variety of commercial enterprises, as well as upscale townhomes.
Prosper’s Pradera project is a development of the Cornerstone Projects Group and Frisco-based Orion Real Estate Capital
Strategically situated on the western flank of the extended Dallas North Tollway, at the intersection with Prosper Trail, the Pradera development is the brainchild of the Cornerstone Projects Group in conjunction with Frisco-based Orion Real Estate Capital.
The development is slated to encompass a staggering 730 multifamily units, thereby reaching the zenith of what is permissible under the area’s existing comprehensive land-use plan. The impending project has incited discussions among key stakeholders, particularly concerning its alignment with current zoning limitations.
Intriguingly, the decision has elicited concern from council member Chris Kern, who was cited by The Dallas Morning News as voicing apprehensions over the project’s maxing out of the multifamily unit quota. Kern elucidated that this could effectively constrict future developments, particularly those aimed at the town’s southern environs, thereby potentially limiting the area’s long-term growth trajectory.
“I continue to have heartburn with the overall number and the longevity of this project,” Kern said during the meeting. “It’s not an objection to multifamily in general because I feel like that’s always a thing. I just have a little bit of concern. It feels like we’re allowing our max at the furthermost point of the Tollway district.”
Pradera’s plans were initially shown to the council members on August 8
Initial exposure to the drafted project plans occurred for council members on August 8, 2023; however, the agenda item was subsequently deferred for further deliberation. During this exploratory meeting, the developer was met with a spate of recommendations aimed at modifying the original proposal.
Among the most salient of these directives was the removal of conspicuous lettering adorning the façades of the project’s central five-story edifices.
Additionally, the council suggested a diminution of the maximum permissible height for office structures—from an originally envisioned 12 stories to a more moderate eight—and a height constraint of three stories was imposed for the planned townhomes.
“They continued to reduce their count to get to where we wanted them to be,” council member Amy Bartley said during the meeting. “They mixed in for-rent and for-sale, which was a big deal to me because I wanted people to be able to purchase condos or other kinds of lifestyle housing and live here and be invested here.”
Pradera is expected to be completely finished and operational in 2043
Despite the green light from the zoning authorities, the construction of this sprawling complex is not a short-term undertaking. Indeed, the project is estimated to span two decades, with initial construction activities slated to commence in 2024. Full completion is not anticipated until 2043, highlighting the long-term investment and commitment that both the developers and the town council are making in the community’s future.
Recently, Plano City Council approved the development agreement for a $70 million apartment project in Plano. Meanwhile in Westlake, a new luxury project called Solana Hills was announced by the Houston-based firm behind the project, Lovett.