Developer Billingsley Co. – whose Cypress Waters community has grown to one of North Texas most successful office and apartment projects – is headed to Grapevine with a new mixed-use development.
Billingsley has received approval from Grapevine’s city council to build a 30-acre retail and apartment project near Grapevine Mills Mall.
The project – between the mall and Kubota Tractor’s new North American headquarters campus – is at 3570 and 3580 North Grapevine Mills Boulevard.
The development will include renovation of the existing Grapevine Mills Crossing shopping center.
Billingsley plans to construct a 4-building, 27,400-square-foot retail center called The Shacks. The restaurant and retail complex would be similar to a similar successful project at the developer’s Austin Ranch community near State Highway 121.
The cluster of small retail buildings would join the existing 49,348 square foot shopping strip next door which gets a facelift.
"The retail we have designed here – we’ve done this idea before," developer Lucy Billingsley told the council. "It’s for small retailers adjacent to a park.
"We are bringing in this new look for retail."
Each of the buildings would mimic older historic properties in the area "to have architecture that is appropriately reflective of Grapevine," Billingsley said.
The retail center would be joined to the apartments with a series of walking trails and small parks and plazas.
"We have seven pocket parks or larger spaces and plazas for the public and three for the residents only," she said.
Billingsley will build more than 430 apartments in two 4-story buildings and two 3-story brownstone style structures.
The apartments – called the Wallis and the Baker – will be built in historic styles with brick and stone exteriors.
"We are committed to try and build a project that is reflective of Grapevine and enriches and improves with time and serves as a major front door to the city," Billingsley said. "
She said that the retail and new rental units will support each other.
"With the retail you need residents desperately," Billingsley said. "For the residential you want retail desperately – a heart and neighborhood and place."
Billingsley Co. has owned the development site for 30 years.
"We would start this project in the fourth quarter of this year," she said. "What we hope and believe is this is exciting and significant for Grapevine."
Billingsley Co. has a strong track record with major mixed-use developments that include apartments, retail and office space.
.The developer’s 19-year-old Austin Ranch in Plano, Carrollton and the Colony includes more than 4,000 apartments, retail and office space.
Billingsley’s 1,000-acre Cypress Waters at LBJ Freeway and Belt Line Road has thousands of apartments, two retail centers and offices for major businesses including 7-Eleven, CoreLogic, Nationstar Mortgage and OneSource Virtual.