Thompson Realty Capital and Trez Capital Developing New 50-Acre Mixed-Use Development in Flower Mound
Published:August 22, 2022
Flower Mound, Texas – August 22, 2022 – Thompson Realty Capital, LLC, in partnership with Trez Capital, announced plans for a new 50-acre mixed-use development locatedat the southeast corner of FM 2499 and Lakeside Village Parkway in the town of Flower Mound. The first phase of theproject includes a four-story, 200-unit, garden-urban mix, multi-familycommunity and 15,000 square feet of retail with space for three restaurants, aswell as a 60,000-square-foot office building with one level of undergroundparking. The development will include approximately 20 acres of public parks,open space and more than 2.5 miles of trails on site.
“After more than four years and numerous site designs, FlowerMound’s planning and zoning commission approved the project plan, and we will ensurewe deliver a new mixed-use destination district that meets the town’s vision,” saidTaylor Field, CEO, Thompson Realty Capital. “This is our first project in FlowerMound, and we are excited to create a new gateway to the area and to theLakeside District that will provide a unique live, work, play environment forresidents.”
The multifamily community will featurestainless steel appliances, elevators, faux hardwood floors and top-of-the linefinishes. It will also include a private fitness center, concierge services, resortstyle pool and a community dog park.
This project is a part of Trez Capital’s joint-venturepartnership program which provides experienced developers like Thompson RealtyCapital with equity financing for value-add and ground-up developments in keymarkets with strong population, employment and GDP growth.
“With more than 25 years of experience inacquisition, development, and property management of multi-family, office andsingle-family residential projects, Thompson Realty Capital is the perfectpartner on this project, and we look forward to launching our ninthjoint-venture project with them,” said John Hutchinson, vice-chairmanand global head of origination, Trez Capital. “Flower Mound is agrowing area which is just one of the many reasons this is an ideal locationfor a new mixed-use development.”
McAdams will handle civil engineering and landscapearchitecture for the project. Other architects for the mixed-use project include:Cross Architects – multi-family; GSO Architects – retail; and AllianceArchitects – office. Bill Dahlstrom of Jackson Walker served as thezoning attorney.
“We have a great working relationship between all ourcompanies. Our commitment to the community and quality will benefit not onlyour companies, but also the people and town of Flower Mound,” said RobertDollak Jr., vice president, Dallas-Fort Worth region, McAdams.
ThompsonRealty Capital and Trez Capital have seven other multi-family projectscurrently under construction in Texas totaling 2,100 units.
The new development is within proximity to Grapevine Lake,has direct access to FM 2499 and is only 5.3 miles from DFW Airport. Theproperty is scheduled to break ground in fall 2022 with phase one completionslated for early 2024.
About Thompson Realty Capital
Originally established in 1980 as Thompson RealtyCorporation and reorganized in 2012 as Thompson Realty Capital, LLC, thecompany has managed and/or owned over 2 million square feet of commercial spacein the Dallas-Fort Worth Metroplex. The company has developed over 700,000square feet of commercial space, as well as 45 single-family and Class A multifamilycommunities in the Dallas / Fort Worth Metroplex, Austin, San Antonioand Northern Virginia and has built and managed over 9,000 multifamilyunits. The company has also developed mid-rise officebuildings, suburban office buildings, industrial and showroom projects andretail centers. These developments encompass over $2 billion in transactionflow, more than 5,000 acres and nearly 10,000 single-family lots. For moreinformation, visit www.thompson-realty.com.
About Trez Capital
Founded in 1997, Trez Capital is a diversified realestate investment firm and preeminent provider of commercial real estate debtand equity financing solutions in Canada and the United States. Trez Capitaloffers private and institutional investors strategies to invest in a variety ofopportunistic, fully secured mortgage investment funds, syndications, and joint-ventures;and provides property developers with quick approvals on flexible short- tomid-term financing.
With offices across North America, Trez Corporate Grouphas over $4.5* billion CAD in assets under management and has funded over 1,700transactions totaling more than $16 billion CAD since inception. The Dallasoffice has funded more than USD $6.2 billion in loans. For more information,visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held byall Trez-related entities as well as $2.9 billion Manager AUM (Trez CapitalFund Management Limited Partnership)).