Natural setting still focus of Canyon Falls development
Canyon Falls has new owners, but the plan for the mixed-use project remains mostly the same.
During Monday's Flower Mound Town Council meeting, Bret Pedigo, founder of the Manna Land development firm, described the plans for the 1,242-acre project, which will be located in west Flower Mound, Northlake and Argyle's extraterritorial jurisdiciton (ETJ). It will be located north of FM 1171, west of Hwy. 377 and east of Interstate 35W.
The plan was approved in late 2007, but a tough economy kept the project from taking off. The property was eventually sold to private equity firm Wheelock Street Capital in July.
Pedigo said the original concept for the project and previous plan approvals for Canyon Falls will allow Manna Land and Wheelock Street Capital to come in and keep with the original intent while using their experience to make a few additioins. Mesa Design Group will be the landscape architect.
"The preliminary plan that was done was well thought out and served well," Pedigo said. "The thing we're doing is coming in with the detail studies and looking at ways to make execution of the plan meet the expectations that everybody had when Canyon Falls was originally approved. So even though we've made minor changes, the quality and the integrity of the plan is still moving forward just like it was originally planned to."
Among the plan's intent is to make use of the rural setting that exists in west Flower Mound.
Pedigo said when residents enter the development from FM 1171, the road leading to the homes will be surrounded by the scenic features that already exist.
"There are tree areas and drainage crossings that we want to accent," Pedigo said. "That's why the road widens and meanders so that we can keep the existing topography in those areas."
Tentative plans call for different village types based on the natural feature prominent in that area. Pedigo said those types could relate to the upland, prairie and creek areas within the development.
"That way everyone feels like they have an identity within the Canyon Falls neighborhood where they live," Pedigo said.
Pedigo said the development will make use of four types of open space components: streets and parkways, amenity features and activity areas, neighborhood congregation spots and preservation areas.
"Our architecture firm is working on a plan that integrates all those areas within Canyon Falls," Pedigo said.
As far as landscaping, Pedigo said the focus will be on what is native to the area, leaving much of the property natural with very few short, manicured areas tied into it.
He said hardscape features will blend in with the sandstone and limestone elements that already exist there.
An agreement for water services was finalized for the project earlier this year, and the sewer line is nearing completion.
Another component that has been approved is Canyon Falls Drive, which will provide an entry point off FM 1171 and Hwy. 377. Construction on the road is set to begin in the coming months.
The east portion of the project, near Hwy. 377, will contain mostly single-family homes, plus a school that is set to serve students in Argyle ISD. Pedigo said if the project is built the way it's envisioned, the price for the single-family homes could range from $350,000 to $600,000.
A Flower Mound fire station and a Denton County building is also expected to be located on the east side. There will also be a few mixed-use and neighborhood service options, possibly a daycare.
Toward the west and northwest part of the property, near I-35W, there will be mixed-use components, mostly commercial and retail buildings with some residential options.
The center of the project will be anchored by Graham Branch Creek with some mixed-use options and single-family homes closer to the FM 1171 entrance.
Pedigo said the first phase will likely include 230-250 lots, which spans from the east side of the project to the center, plus the amenity center near the FM 1171 entrance. He said some of the commercial/retail locations near I-35W may be part of Phase I as well. He said future phases would include construction north and west of the initial pieces.
Pedigo said homes should begin construction in late 2013 or early 2014. He said he expects there to be 1,750 to 1,800 single-family residential homes. He said there will be about 300 multi-family units in the project, though they will be located in the Northlake portion of the development.
Pedigo said the build-out could be between five to seven years or seven to 10 years, depending on the market. Once complete, Pedigo said Canyon Falls will rival or be better than many other master-planned communities because of its natural surroundings.
"Many of the other developments just don't have the pallet that we have," Pedigo said. "We have the trees, beautiful topography and creeks that we can build this around."