Work on the Prosper Arts District will get underway later this year. The Prosper Town Council approved zoning changes and a development agreement for the 35-acre project, located at the northwest corner of Dallas North Tollway and Prosper Trail. The development team will led by Capitalize Ventures, and Gensler will do the design work.

When finished, the Prosper Arts District is slated to feature three hotels, more than 500 apartments and a shopping village centered around a water trail. One hotel will be dedicated to hosting weddings and could become a destination spot for such occasions. An announcement is expected in the coming months about the sports-focused hotel.

Once completed, the district could create more than 400 full-time jobs and contribute more than $1 billion in economic impact. Developers expect the development to cost more than $300 million overall.

Prosper, which straddles both Collin and Denton counties, is among the fastest-growing cities in the United States. Its population climbed nearly 11% from 2022 to 2023.