Luxury development hides cars to showcase views
By Seth Bodine – Staff Writer, Dallas Business Journal
Feb 10, 2025 | Updated Feb 11, 2025
The master developer planning an expansion of the Lakeside project in Flower Mound is making progress on what it calls a key piece of its development: an entertainment district anchored by an underground garage.
The developer behind the 160-acre Lakeside Village in Flower Mound has provided a construction update on the project, which will include a luxury hotel that connects to an office along Lake Grapevine and a major entertainment district.
Developer Realty Capital Management LLC expects to finish a $16 million underground parking garage in April, according to the company. The 375-spot garage is part of a $60 million infrastructure phase for Lakeside Village’s seven-acre entertainment district called South Sunset, which is expected to open in 2027. The entertainment district will include a public plaza surrounded by restaurants, a wedding chapel and trails.
Lakeside Village’s president, Peter Stewart, said while underground parking in the suburbs may sound unusual, it has a purpose.
“We’re intentionally hiding hundreds of cars at South Sunset to enhance the beauty of the site and create a pedestrian-friendly experience,” he said in a statement.
The garage, expected to be finished in April, is also meant to protect visitors’ sunset views over the 8,000-acre reservoir.
Lakeside Village Partners, the landowning entity controlled by the Stewart family in Dallas, and development partner Realty Capital Management are working with California-based Swinerton Builders on the project.
Restaurants are expected to sit on top of the land where the garage will be built. Jimmy Archie, managing partner of Realty Capital, said the restaurants will range in size from 4,000 to 6,000 square feet with two-story dining levels with views of the lake.
“We have numerous restaurateurs interested in the lake-view sites,” he said.
Along with the development’s restaurants and plaza, a trail will wind about a quarter mile to an amphitheater featuring the lake as the backdrop, along with access to Rockledge Park and the 22-mile Northshore Trail.
Another part of Lakeside’s development, a 16-story, 207-unit luxury apartment called Thirty-One Eleven Sunset is expected to open in March. A 12-story, 181-room luxury Marriott hotel with a rooftop pool, spa and private yacht called Hotel Miramar is also in the works. The developer is also planning a six-story office building called 3301 Sunset. Both are projected to open in 2027. Coury Hospitality will operate the hotel and JLL will lease the office building.
Lakeside includes more than 40 stores and restaurants, 1,297 multifamily units, 61 condos and 165,000 square feet of office space. When initial plans for Lakeside were revealed in 2012, the project had an estimated cost of $1 billion. In 2023, Realty Capital partnered with builder Corey Van Trease to bring luxury homes to the Lakeside Village community with prices starting at $2 million.
Realty Capital also plans a luxury Marriott hotel, retail space, 350 luxury rental residences and a four-story office building as part of a development called Lakeside East, not far from Lakeside Village on the northeast corner of International Parkway and Lakeside Parkway. Lakeside East has not yet received zoning approval.
https://www.bizjournals.com/dallas/news/2025/02/10/lakeside-flower-mound-garage-expansion.html