Capitalize Ventures Receives Zoning Approval for $300M Mixed-Use Project in Prosper, Texas

PROSPER, TEXAS — Locally based developer Capitalize Ventures has received zoning approval from the Town of Prosper, about 40 miles north of Dallas, for a mixed-use project that is valued at roughly $300 million and will be known as Prosper Arts District. The 35-acre site is located at the northwest corner of Dallas North Tollway and Prosper Trail. Preliminary plans call for 515 multifamily units, three hotels and a retail village centered around a water feature display, to be developed in four phases. Phase I, which will include the development of core infrastructure, a sports-themed hotel, retail space and a parking garage, is set to begin later this year and to be complete in 2026. Gensler is leading the design of Prosper Arts District, which is ultimately expected to create about 400 full-time jobs and generate more than $1 billion in economic impact for the region.