A Dallas real estate company has purchased a strategic Prosper property with plans for future commercial development.
Urban Heights Real Estate has acquired a nearly 35-acre parcel at the southwest corner of the Dallas North Tollway Extension Road and Frontier Parkway from a local partnership.
The new owners are planning a commercial development called Frontier Gateway which will include approximately 282,000 square feet of construction. DuWest Realty is working with them on the project.
The new shopping center project is close to where grocer HEB plans to open a supermarket.
“We are thrilled to be a part of this new development,” DuWest Realty’s Scott Rodgers said in a prepared statement. “As the city continues to grow north, this intersection will create another major commercial corridor in the town of Prosper.”
Rodgers said Frontier Gateway developers are talking with several national retailers about the project, which would open in 2024.
The Frontier Gateway property is in the same area of Prosper where another development site recently changed hands. Frisco’s Capitalize Ventures has partnered to purchase approximately 36 acres at the northwest corner of the Turnpike and Prosper Trail.
The new owners are planning a mixed-use development of approximately 150,000 square feet on the property. It’s near the Star Trail community.
DuWest Realty is also working on this project.