The town of Prosper recently approved the zoning for the 35-acre, mixed-use development Prosper Arts District. The project is expected to be worth $300 million. Capitalize Ventures is helming the project, and Gensler is doing the design work.

Located at the northwest corner of Dallas North Tollway and Prosper Trail, the Prosper Arts District will feature three distinct hotel concepts, 515 multi-family units and an extensive retail village centered around a planned water feature.

With entitlements and zoning finalized, the project’s four-phase development is set to begin later this year. Phase one will concentrate on planning and designing the overall infrastructure, which includes waterways, roads and walking paths. This phase will introduce a sports-focused hotel, a parking garage and extensive retail spaces, with completion expected by late 2026. The following phases will add more multi-family units, two additional hotels and retail offerings. The project is slated to create 400 full-time jobs and generate more than $1 billion in economic impact for the region.