Six Mil-SF Lakeside DFW Eyes Spring 2002 Start

The Stewarts have joined forces with Verizon to develop the property into a SmartPark. Also on board are Henry S. Miller Interests, the project's sole retail developer, and possibly Cooper Aerobics Enterprises Inc., a world-renowned fitness operator. A nationally known hotel developer will be joining the mix, but family point man Alan Stewart isn't saying who it will be just yet since it's still in the negotiating stage.

Come December, says Flower Mound's Mayor, Lakeside Parkway will be complete and development can begin. The city has kicked in $25 million in infrastructure.

Lakeside DFW is a design of Richard Ferrara Architects and Land Planners. The project is a joint venture of the Peter P. Stewart family and Pat Cornell of Cornell-Rader.

Lakeside DFW is one of 154 Verizon SmartParks, totaling 210 million sf, that are under contract or developed in the US. Verizon's current focus is the Mid-Atlantic and northeastern US, where there are six properties under contract and negotiations are under way with another 20 developers, John King, general manager of commercial programs for Verizon Communications, tells GlobeSt.com.

Investors, brokers, local officials and corporate senior executives attended last night's kick off, where they heard that no public hearings will be required for building projects that conform to the approved site plan. Amenities include office windows that face the lake and a pedestrian-friendly design that keeps work, retail, the fitness center, hotel-conference center and restaurants all within a five-minute walk.

Come spring, work begins on one of the four retail corners and an office project. The four corners, totaling 230,000 sf of high-end retail, are being jointly developed by Henry S. Miller III and Robert Bagwell of Urban Partners Inc., the development affiliate of Henry S. Miller Interests, and Cornell as lead man for Lakeside DFW Land Ltd. The retail component, Stewart tells GlobeSt.com, is the "gateway" to Lakeside DFW.

The lead office project, Sunset Point, consists of one million sf coupled with 200,000 sf of retail and 50,000 sf of restaurant space. Still to come will be a 300,000-sf hotel-conference center, a 72,500-sf fitness center, 300,000 sf of medical space, with the balance of the six million sf to be delivered in more high-tech office space.