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Lakeside officials discuss apartments
Chris Roark, croark@starlocalnews.com
Officials with Realty Capital Management hosted another public meeting Thursday night to address the concerns residents have with apartments at the proposed Lakeside DFW development.
Richard Myers, CEO of Realty Capital, described the plan for the 150-acre project, which, pending approval by the Flower Mound Town Council, would be located off Lakeside Parkway, west of FM 2499.
It’s also set to include a mix of residential pieces, ranging from single-family options to multi-family units – condominiums, townhomes and apartments.
Some town leaders, such as Mayor Melissa Northern, have been cautious about the apartment component. Friday, Northern said it’s all about the project being done correctly.
“Once the town staff has reviewed the application and it has gone through the process, it will be council's responsibility to ensure we have dotted all the I's and crossed the T's to give our community exactly what they have been promised,” Northern said. “I believe if this is done right, not only will the residents get a return on their investment for the infrastructure, but this could be a vibrant day-time and night-time shining star for Flower Mound and the region.”
Northern’s opponent in the mayoral race, Councilman Tom Hayden, has been a big supporter of the development. But he, too, has said previously that he does not want a partial project. Hayden could not be reached for comment.
Thursday, Myers discussed the plans regarding the multi-family component and explained why it’s necessary.
“We need density to have a life to this place,” Myers said. “If we’re going to have sidewalk cafes and shops, we can’t purely rely just on people driving by.”
Myers frequently referenced the Shops at Legacy in Frisco to compare the two mixed-use projects.
Myers said Legacy has 3,500 apartments. He said Lakeside DFW is proposing 600 apartments, plus 250 rental units for seniors. He added that doesn’t include the possible apartments that are proposed to be above retail units.
Myers said he understands the hesitation about apartments but said multi-family uses aren’t always a negative component.
“The apartments in Legacy are 10-15 years old,” Myers said. “And Legacy isn’t declining.”
Myers said the town can control what type of product the project has, even with apartments.
“The zoning code is critical,” Myers said. “The most important thing is what the zoning says about the buildings.”
Flower Mound has a mixed-use ordinance, and Lakeside DFW officials say they are trying to fit its project within that framework.
Though the crowd was small, residents seemed impressed with the plan but maintained a level of cautiousness regarding the quality of the apartments. "No matter who sits on council this coming May, I would urge residents on both sides of the local political spectrum to ensure the proper safeguards, agreements, and local legislation are put into place, so this project will be a success for all of the stakeholders," said resident Eric Jellison. "The owners of the property should not be overburdened by local government, but the community interest must also be equally protected. I will support any local leader who doesn't sacrifice either one for the other.”
Myers also said the rental rate for the apartments is somewhat expensive -- between $1,000 to $2,000 per month -- and that should attract well-educated residents as well as empty-nesters.
He said the fact that the apartments would be close to the million-dollar homes also slated for the development is another reason the apartments would be upscale.
The impact on schools is another concern residents have had about the apartments.
But Myers said he expects 15-20 apartments to actually generate only one student.
Lakeside DFW officials submitted a suggested timeline that calls for council approval by late May. But there is no word if the town will be on that schedule. There is, however, a council work session April 19 to discuss the project.
The following are comments from the readers.
In no way do they represent the view of Starlocalnews.com
In no way do they represent the view of Starlocalnews.com
alFiLeDdemOcrat wrote on Apr 11, 2012 9:21 PM:
" It appears that Mayor Northern had a brief moment of clarity in supporting this development. I bet that it won't take long for her puppeteer on Council to get her under control and ruin another good project. That's the big problem with the NFL slate, when Mr. F makes a decision he gets support from Mrs. N and Mr. Lyda (see Lyda's nonsensical response to ruin the Kroger project). The NFL slate is bad for Flower Mound. "
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