Prosper Looking at New Retail Project

Dallas-based developer Urban Heights Real Estate acquired 35 acres on the southwest corner of the Dallas North Tollway (DNT) and Frontier Parkway with plans to build 282,000 SF of anchor and small-business retail space. Pad sites will also be available.

“As the city continues to grow north, this intersection will create another major retail corridor in the city of Prosper,” said broker Scott Rodgers, partner at DuWest Realty. Rodgers brokered the transaction and will handle marketing for the development.

The City of Prosper and its business development agency have selected the land for DNT expansion for a mix of commercial uses that will generate high tax revenues, including offices, restaurants, retail, grocery stores and entertainment venues. Urban Heights is in discussions with potential tenants for the development. Site plans are subject to city approval, but groundbreaking is expected in 2024. Grocer H-E-B owns 20 acres across the DNT from the Urban Heights land, but has not provided a timetable for building.