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New development planned to replicate Italy in North Texas
Prosper's town council approved zoning plans for the project Tuesday evening.
PROSPER, Texas - An Italian-inspired village is coming to North Texas after the Prosper Town Council approved zoning for a massive new development.
The Marco Development
What we know:
The $2 billion project, called "The Marco," will cover 143 acres at the northeast corner of the Dallas North Tollway and U.S. Highway 380 in Prosper.
The development will feature residential buildings, two hotels, office space, and retail shops.
A city and school-operated performing arts center, along with various entertainment venues, will also serve as a main part of the project.
Video from the developer's website shows a design featuring buildings surrounded by a lagoon and a canal system.
What we don't know:
While the developer noted that construction could begin by the end of the year, officials have not released an exact timeline for when the village will be fully completed.
The backstory:
Blackard Companies, a real estate developer based in McKinney, is spearheading the project.
Since 1981, the company has delivered $7 billion in real estate assets. The developer focuses on building walkable, mixed-use villages.
What's next:
With the recent zoning approval from the town council, the project is cleared to move forward. Construction on the 143-acre site could begin before the end of the year.
The Source: The information in this article comes from a Blackard Companies press release.