The Flower Mound City Council has given final approval for local investor Jack Furst’s passion project.
The 1,066-acre Furst Ranch is set to go up at the intersection of U.S. Highway 377 and Cross Timbers Road on the west side of town. Flower Mound is a Dallas-Fort Worth submarket on the border of Denton County and Tarrant County.
It’s the largest such development tract in Flower Mound, according to the Dallas Morning News. The land is reportedly owned by an investment group led by longtime Flower Mound resident Jack Furst.
“This is an opportunity — a legacy of Flower Mound and a legacy of my family,” Furst said at the planning commission meeting. “It will be spectacular.”
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Flower Mound’s planning and zoning commission approved detailed plans for the development in August after three months of negotiations with Furst, who had to drop a significant number of multifamily units and scrap proposed warehouse space from the final plans. Furst’s initial application included 10,448 apartments. The zoning commission approved the ranch on the condition that the apartments be phased-in based on Furst bringing in new commercial space.
“For the first 10 years, I can’t build any more than 2,750 apartments,” he said.
At full buildout, the ranch will include 5,000 multifamily units, 3,000 single-family homes and 1,000 senior-living residences, with about 30 percent of the land dedicated to parks and a man-made lake. There’s also room for 6 million to 8 million square feet of commercial space including retail and offices. Construction of the project will be done in phases and could take 30 to 40 years.
— Maddy Sperling