A 21-acre property in Corinth, Texas, has been acquired for the development of a mixed-use project dubbed Parkway District.
The property was acquired by Realty Capital Management with the financial help of Texas Bank and Trust. Now that the site has been secured, the developer will collaborate with the City of Corinth on its latest development.
According to the city manager, Scott Campbell, the Parkway District would be a landmark property with high visibility along Interstate 35. He mentioned that the project’s location is at one of the most visible sites still remaining in the city.
Campbell also said the city was fortunate to partner with Realty Capital Management on Parkway District. Especially since the new mixed-use development would build tremendous opportunities that will drive more jobs and investment. He was certain that the new project would be the first of many mixed-use developments for the city.
Realty Capital plans to break ground on the project by late 2023.
An overview of the Parkway District in Texas
The $45 million Parkway District in Texas is only a small part of a larger expansion along the city’s Interstate 35E corridor. It will bring a walkable community to Corinth including public amenities and entertainment spots. Moreover, the project will feature 275 high-end multifamily residences and townhomes.
Also Read: Arbor Park Apartments in Austin, Texas, set for development
Additionally, a 20,000-square-foot retail component will be available, along with a hotel, green space, and trails. Furthermore, the project will include a town center positioned at the heart of a linear park. The developer believes the project will also bring some much-needed density to the sprawling city.
Besides Parkway District, Realty Capital has built close to 200 projects in Texas and Colorado. The developer also has over $500 million of its projects under development. Realty Capital recently broke ground on a luxury residential tower at the Lakeside Village development in Flower Mound.
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