35-acre arts district coming to Prosper

The town of Prosper is developing an arts district in hopes of becoming a destination for getaways, weddings and shopping.

Why it matters: Prosper, located 36 miles north of downtown Dallas, used to be considered on the outskirts of North Texas. Now it's part of the region's population and development boom .

• The town's arts district will be the first large mixed-use development north of U.S. Route 380, per the Dallas Business Journal .

Driving the news: Town officials approved zoning changes this month that will allow the 35-acre, $300 million project to move forward.

The intrigue: Prosper's population grew 10.5% between July 2022 and July 2023, making it one of the country's fastest growing cities with a population of at least 20,000.

• The Dallas North Tollway is also being expanded to run through Prosper and Celina.

Stunning stat: The arts district is expected to generate $1 billion for Prosper and create over 400 full-time jobs, per Capitalize Ventures, a Frisco firm that is developing the project.

State of play: The Prosper Arts District will have three hotels, a retail village, water feature and 515 multifamily units.

• One of the hotels will be designed to serve as a wedding venue, the business journal reports. There will also be a sports-focused hotel.
• The district's development will be divided into four phases, starting with walking paths, roads, parking, some retail and the sports-themed hotel.
• The overall design will honor Prosper's "rich agrarian history, reflecting its early 1900s origins and the legacy of its people and businesses," Barry Hand, who is overseeing the project for the architecture and design firm Gensler, said in a news release.

What's next: The first phase will start later this year, with a targeted completion date in late 2026.