Almost 20 years after buying the land, Dallas Cowboy’s owner Jerry Jones has quietly started construction on his $1 billion Gates of Prosper development.
Construction crews are busy at the northeast corner of Preston Road and State Highway 380 in the town of Prosper.
Jones’ Blue Star Land Co. is teaming up with developer Lincoln PWt4roperty to build a more than 300,000-square-foot shopping center on the property located just north of Frisco.
“We are kicking off the dirt work and putting in the utilites and streets,” said Blue Star Land CEO Joe Hickman. “We hope to have the first phase finished by the middle of next year.”
The 93-acre retail center is just the first phase of major mixed-use project Blue Star plans along the north side of U.S. Highway 380 in Prosper. A Walmart store will be included in the project.
Additional retail, offices, apartments and homes are also planned in the Gates of Prosper project.
“We are excited to finally get started on it,” Hickman said. “The economic slowdown in 2008 slowed things down.
“The Prosper market is now getting enough rooftops to support the retail development.”
Construction of a new interchange at Preston Road and widening of U.S. 380 also have figured into the development timing, he said. “It’s being driven by that traffic out there,” Hickman said.
The development will anchor the south side of Prosper.
“It’s one of our front doors,” said Robert Winningham, who heads the Prosper Economic Development Corp. “We are excited about the quality of development going into this project.
“It’s been a long time coming.”
Lincoln Property is also a partner with Jones and the Dallas Cowboys in construction of the football club’s huge new headquarters and surrounding development in Frisco.
Along with office space and sports facilities, the Cowboys’ Frisco project also includes a major retail venue plus a luxury Omni Hotel.