Project News / Commercial
Stalled $300 Million Prosper Trail Mixed-Use Project Shifts to Retail First
After the original financing fell through, the 35-acre development at Prosper Trail and the Dallas Parkway is being reworked with multiple partners.
A $300 million mixed-use development planned for about 35 acres at the northwest corner of Prosper Trail and the Dallas Parkway in Prosper is being reworked to start with retail. The project's site and concept plans were approved in 2024.
The original developer's financing fell through, and its option on the land expired in early 2026. Capitalize Ventures, led by Krishna Nimmagadda, is now moving the project to a structure with multiple partners and a retail-first phasing.
Two prospective investors balked at the project's structured parking requirement. Floodplain detention needs also enlarged the southeast portion of the site.
Retail approvals are now in process with town staff and are expected to take about six months. A hotel operator has shown preliminary interest, and multifamily partners are being sought.
Gensler's involvement in the project ended in 2025. No general contractor has been named.
