Real Estate
Home›Real Estate›Industry›Developer moves ahead with $240M mixed-use Bella Prosp…
Developer moves ahead with $240M mixed-use Bella Prosper project
The plan calls for a 139-key hotel and at least 60,950 square feet of retail, with the project expected to generate $59.8 million in annual taxable sales.
Developer Naseem Shaik is moving forward with a $240 million mixed-use development in Prosper called Bella Prosper, a project that will include a hotel, office space, retail, and restaurants. At the time, no multifamily is planned for the site.
Bella Prosper will be built on 61 acres and feature a manmade lake at the center of the development. The project’s office components are expected to include one-story offices plus office space above restaurant and retail areas.
ConnectCRE says the development will include a 139-key hotel geared toward business travelers, a public parking deck, and a park with a water feature. It also plans to build at least 60,950 square feet of retail space.
The outlet reports Bella Prosper is expected to create $59.8 million in annual taxable sales. Developers also estimate the overall project will generate $88.3 million in net benefits for the town over the next 25 years.