Developer proposes Italian-inspired village off Dallas North Tollway in Prosper

It's visually stunning and will cost billions of dollars to build. But a North Texas developer is betting big on a proposed Italian-inspired village on a hot piece of property in Prosper. 

"The northeast corner of 380 and the tollway is the best undeveloped piece of real estate, I would say, certainly in the United States, maybe the world," said developer Jeff Blackard, with Blackard Companies.

It may not look like much now, but the grass field in Prosper is worth a lot of money, according to Blackard. 

"I would say the hottest market in the United States is the tollway going up north, and that's the last undeveloped corner of a major intersection," he said. 

Blackard hopes that in as little as 5 years, it will look like a village of homes, condos, apartments, shops, restaurants, and even a performing arts center inspired by Venice, Italy. 

"Something like this needs to happen on that piece of property," Blackard said.

If you don't believe Blackard can pull it off, just look at his Spanish-inspired village in Westlake called Entrada, his Seaside Village in Corpus Christi, or down the road from Prosper in McKinney at what's known as Adriatica, where Blackard built a Croatian-inspired village that adheres to his vision of community living. 

"Just like where I'm standing right now, you've got senior living, you have multifamily, you have high-end condos, you have $2 million houses right here. So the bus boy that works in that restaurant right there, lives right there," he said.

The Marco, as it's called, would be the developer's biggest challenge yet, with a mile-long promenade surrounding a large lagoon and canals for water taxis. 

A city and school-operated performing arts center would also be a main part of the development. 

"I think that idea will last hundreds of years," said Blackard. "Not your typical 30-year cycle, you have to tear it down."

The project has support from city leaders.

"I welcome the vision for the Marco project," said Prosper Mayor David Bristol. "If the zoning is approved by the Town Council, it has the potential to be a generational project at a key location for our community. "

The city council will vote next week on a zoning request for the project. 

Blackard says North Texas needs to rethink traditional subdivisions and build communities that bring people together. 

"If we can show how this will work, there will be a lot more of that," he said.