Prosper Greenlights $2B Italian-Themed Community

The Prosper Town Council approved a rezoning for The Marco, a 143-acre Italian-themed development on the corner of Dallas North Tollway and University Drive. The $2 billion mixed-use development features waterfront homes, hotels, offices and a 15-acre lagoon.

The Dallas Business Journal reports that Jeff Blackard, founder of Blackard Cos., is the developer. He previously developed Adriatica, a $350 million, 45-acre Croatian-inspired village in McKinney. Blackard is partnering with Cawley Partners.

Plans for The Marco call for more than 4,000 residential units, ranging from apartments and senior living to luxury condos that could sell for as much as $10 million apiece. Plans also call for up to two hotels, 1 million square feet of office space, specialty retail, restaurants, a grocery store and a market hall.

The project will have a Venetian-inspired design, centered around a 15-acre lagoon and a network of canals large enough to accommodate electric boats.

Construction is targeted for winter 2027, with the entire development expected to take five to 10 years to complete,.