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Canyon Falls could begin in August
By Chris Roark, croark@starlocalnews.com
It’s been nearly four years since the Flower Mound Town Council approved a rezoning request and a new zoning classification to pave the way for Canyon Falls, a 1,542-acre mixed-use development in the west side of town.
But after the lagging economy kept the project from ever getting underway, it appears things are looking up.
The current property owner, Highland Crusader Holding Corporation, is selling the property to an affiliate of Wheelock Street Capital. Bret Pedigo, president of Manna Land, Wheelock Street Capital’s development partner, said the sale of the property is expected to be finalized July 27.
Original plans for the project called for the project to have medium- and high-density residential areas, as well as commercial, regional campus commercial and campus industrial areas.
The site will include six types of residential buildings with a maximum of 972 dwelling units, as well as commercial and office buildings. It will also feature other amenities such as a proposed elementary school and a fire station.
Early plans also called for making use of the area’s topography, creating parks along the hills to take advantage of the views.
Pedigo said the scope of the project remains the same with the new ownership.
In fact, dirt should start turning next month.
“The major spine road of Canyon Falls Drive should begin construction in August or September,” Pedigo said. “Plans for Phase 1 lots will be submitted around that same time, and Phase 1 lots will begin development around the first of next year.”
As part of its action in 2008, the council approved the creation of a Single Family District 5 (SF 5) category, which allows the property to have single-family lot sizes down to 5,000 square feet in high density areas, in addition to 10,000 square-foot lots, which was previously the minimum allowed by the master plan. That will broaden the reach for people looking for homes as the development will have smaller starter homes as well as larger homes.
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