The Flower Mound apartment tower is part of a $1.5 billion project

Developers of a Flower Mound mixed-use project are planning a high-rise residential building.

Irving-based Realty Capital has been working on the $1.5 billion Lakeside Village development on Grapevine Lake for nearly a decade. The 40-acre project will include shops, restaurants, offices and residences. This is the final phase of Lakeside DFW’s 165 acre development on Long Prairie Road.

Realty Capital recently completed a $75 million, 16-story condo tower in Lakeside Village. Homes in the project initially started at over $750,000.

Now the developer is working on plans for a second residential tower.

The 16-story, $110 million building would be built starting this summer at 2800 Lakeside Parkway, according to planning documents filed with the state. The residential tower was designed by Merriman Anderson Architects and will open in 2024.

Called Terranea, the building is designed for more than 200 residences. Realty Capital chief executive Jimmy Archie confirmed plans for the Lakeside Village tower and said a formal announcement would be imminent.

The Flower Mound building is one of several high-rise residential projects underway in North Texas.

Over 42,000 apartments were under construction in the D-FW area in the first quarter.

The Terranea residential tower is part of the Lakeside Village development.(Merriman Anderson Architects)

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