Dallas-based Direct Development plans to break ground in fall 2018 on a 35-acre project in Flower Mound. The development, called The Point, will have office space, apartments, retail, and a hotel across two sites near FM 2499 and Silveron Boulevard.
Direct Development will build 215,000 square feet of corporate office space to be leased by JLL’s James Esquivel. Trammell Crow Residential will build 585 apartment units. The project will also have a 100-room Tru by Hilton. More than 5 acres of public space will include walking trails and green space. Options for ground-floor retail and restaurants are still being discussed.
The Point will grow the Flower Mound tax base by $150 million, according to Direct Development, and bring 1,000 young professionals to the area.
“Zoning has allowed for development of Class A office within the Lakeside Business District for 30 years, yet none has been developed,” Direct Development Managing Principal David Watson says. “Our vision for The Point is to bring the kind of authentic, vibrant urban experience that is attractive to major corporate office tenants and the community to the heart of the Lakeside Business District.”
