Jerry Jones’ Blue Star Land Holdings has had a busy 2022.
The Cowboys owner’s family company is adding 1,000 residential units and a Target to its Gates of Prosper retail center in Prosper, according to the Dallas Morning News.
The project marks the third phase of retail construction for the Preston Road development. The 140,000-square-foot superstore will make the Gates of Prosper the largest shopping center along U.S. 380 between McKinney and Denton, with more than 1 million square feet of shops and restaurant space.
Jones started buying land for the Gates of Prosper development in the early 1990s, when the Cowboys went 1 and 15 and much of the area was still farmland. The first phase of development began in 2016, and its second phase was pushed to 2021 due to COVID delays.
The residential plans estimate about 1,000 units, including apartments, single-family homes and townhouses.
“We’ve got 325 apartments under construction that will open in spring of next year,” Blue Star Land general manager Joe Hickman said.
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With more than 500 acres, the mixed-use project is expected to eventually total almost $1 billion in value, said the Dallas Morning News.
Blue Star is one of the biggest real estate players in both Frisco and Prosper– best known for the Dallas Cowboys’ $1.5 billion Star development on the Dallas North Tollway.
In February, the company quietly purchased more than 120 acres on Interstate 35E in Waxahachie for a mixed-use project. The firm has also purchased more than 100 acres of industrial land in Prosper west of the old downtown.
Jones has even expanded his empire into the rural areas outside of Dallas such as Celina, where he bought an 88-acre tract off the Dallas North Tollway extension through Collin County.
[Dallas Morning News] – Maddy Sperling