Catherine Ross, NBC 5 Collin County Reporter
Prosper approved a 157-acre mixed-use development for the northwest corner of where U.S. 380 meets the Dallas North Tollway.
Just more than a month after Frisco announced its plans for a development along the U.S. 380 Corridor, the town of Prosper is joining the mix.
This week, the Town Council and the Prosper Economic Development Corp. approved a 157-acre mixed-use development for the northwest corner of where U.S. 380 meets the Dallas North Tollway.
Robert Winningham, EDC executive director, calls the spot "one of the hottest corners in the Metroplex."
Hulon Webb, Prosper's development services director, said the project would be "very similar to 121 at the tollway" in Plano and Frisco. The Prosper project will eventually develop into more than 3 million square feet of retail, office, entertainment, residential space and more.
The project does not have a timeline, but work is being done to update the town's infrastructure to accommodate the large development.
"We have to be sure we can keep up the best we can and possibly stay ahead of some of that growth," Interim Town Manager Lyle Dresher said.
Other projects are in the works as well.
Blue Star Land LP, a development company owned by Dallas Cowboys owner Jerry Jones, is also planning developments at U.S. 380 near Preston Road.
Winningham said the corridor is primed to bring in tax revenue as well as corporate centers.
"We see that 380 and tollway corridor as a prime location for job creation," he said.
The town confirmed that property, sales and other taxes will not increase as a result of the project.
Dallas-area developer Matthews Southwest is in charge of the project.