Construction is beginning on a 47-acre mixed-use community and park with "significant" waterfront frontage on Highway 377 in Granbury.

The project, called LakeView Landing, will include lakefront restaurants, shops, waterfront single-family homes with boat docks, patio homes, townhomes, active-adult multi-family housing, market rate multi-family residences, a SpringHill Suites by Marriott, and a public park.

Located at 300 East US Hwy 377, it's going into what is currently a green patch of land along the Brazos River, on the southeast corner of the river and 377 — straight across the river from Dolce Vita at Lakeside, a senior living facility.

The project is from Realty Capital, a Dallas/Fort Worth-based employee-owned development firm that develops and invests in multi-family and commercial projects in Texas, Colorado, New Mexico, and Florida.

Planning for LakeView Landing began in early 2019. Construction has begun and is scheduled to finished by 2028.

The funding comes from a combination of sources including a construction loan provided by Texas Bank and Trust, bond funding, and the City of Granbury, who will be participating in the cost to extend Overstreet Boulevard from 377 to Waters Edge Road. They also established a Public Improvement District that will provide significant financing for the project’s public infrastructure.

“The creative financing structure of this deal highlights the collaborative effort and strategic planning between our development team and the City of Granbury,” says Coltart in a statement. “This lakefront property represents a significant opportunity for the public to enjoy additional restaurants, trails, parks, and access to the Lake shore. We are grateful for the cooperation of Brazos River Authority and the City of Granbury as we worked through unique challenges to get the property ready for construction.”

City Manager Chris Coffman says that “This project represents the culmination of years of working with the Realty Capital team, and visionary input and commitment from our Mayor and City Council members. We are excited to see the development of one of the largest remaining lakefront properties bringing amenities that will be enjoyed by all Granbury residents.”

A total of 105 single-family homes are planned for LakeView Landing. Of those, 24 will be waterfront lots with the option to have a private boat dock. Prices for waterfront lots will start at $450,000. The remaining non-waterfront lots are expected to be offered at prices starting at $100,000. Realty Capital Residential is finalizing plans to construct 289 market-rate multi-family residences.

Fort Worth brokerage group the Ashton Agency will be the exclusive real estate broker and have created a website at www.theashtonagency.com/lakeview-landing.