Lakeside East Is Breaking Ground This Summer — Here's What 21 Acres on Long Prairie Is Becoming

If you drive FM 2499 between Spinks Road and Lakeside Parkway, you've passed that 21-acre stretch on the east side enough times to stop wondering what was ever going to happen there. This summer, you get your answer — and dirt is moving now.

The approved Lakeside East plan brings 132 townhomes to the site, along with a hotel, 43,000 square feet of retail space, several plazas, and a nature trail open to the public. The developer is Realty Capital, the same Irving-based firm behind Lakeside Village across the road.

The 21-acre site is the fourth and only remaining undeveloped corner at that intersection. Realty Capital bought the property in March 2022, then submitted its first rezoning and master plan amendment application in January 2023.

It wasn't a smooth path. The Planning and Zoning Commission voted 4-2 to recommend denial of both the master plan amendment and the rezoning in March 2025. Town Council then unanimously voted to table consideration at its April 7 meeting. The sticking point was density — the original proposal included 326 apartments, a four-story office building, and a hotel. Neighbors pushed back on the apartment count and the traffic it would bring.

Realty Capital went back to work. The revised proposal replaced the 326 apartments with townhomes and swapped the four-story office building for two smaller buildings. That version earned unanimous approval from Town Council at its October 6 meeting.

The economic development agreement covers a hotel with 128 rooms, as many as five restaurants, and a pair of retail strip centers. The town's estimated incentives total $5.07 million, applied only to the commercial and hotel components — not the townhomes.

Town Manager James Childers framed the location plainly. For people entering town from Grapevine, this stretch serves as the "southern porch" into Flower Mound. "It's pretty big to be able to develop those spaces and have that front door to Flower Mound," Childers said.

Jimmy Archie, a managing partner at Realty Capital, said the updated proposal accounts for community feedback, including concerns about density and traffic. The plan preserves the walkable Lakeside character. An arts plaza, entertainment plaza, and nature trail are all part of the build.

For drivers, full construction on this stretch of Long Prairie is now underway, with completion targeted for summer 2027.

The zoning is set, the incentive agreement is signed, and work has begun. To track temporary lane restrictions or closures as site work continues, Flower Mound's development portal at flowermound.gov is the place to check.