Large planned community with lake, boardwalk and future restaurants coming to DFW
Major residential development is coming to Euless.
More than 63 acres will soon be home to a mix of single- and multi-family living options known as Watercolor. The planned community is at the intersection of Texas state highways 360 and 183, just minutes south of Dallas-Fort Worth International Airport.
The project includes a 35,000-square-foot lake with a boardwalk. The water feature will connect to a trails system for hiking and biking. Watercolor is expected to create more than 760 total housing units and leaves potential for a hotel and restaurants.
Members of the Euless City Council voted unanimously to approve rezoning of the property during a meeting Tuesday. The property serves to complete a previous mixed-use project that started back in 2011, then known as Riverwalk.
“That’s important for the city, because there were certain commitments made by the developers at that time to provide a riverwalk, a water feature and various amenities for use of the single-family residences that are north of the Watercolor development,” said Michael Warrix, planning and economic development director for Euless.
The developers of the former Riverwalk changed ownership in 2020 before project completion. Roughly 400 single-family homes and 500 multi-family lofts had already been constructed. But residents were left waiting for promised amenities including the water feature, restaurants and retail.
Now Centurion American Development Group will take the lead on the project. The North Texas real estate developer led a similar mixed-use development project in Euless called Founders Parc on South Industrial Boulevard and Airport Freeway. Previous master-planned communities by Centurion American have included golf courses, parks, water park themes and hiking and biking trails.
“Getting the Watercolor project completed up there and closing the loop on the Riverwalk project has been really important for the city over the years,” Warrix said. “Now we feel we’re in a good position to do that successfully, because we’re working with the same development company that we worked with on Founders Parc. They’re familiar with how we work, our development regulations and our building regulations.”
Not only will the Watercolor development follow through on promised amenities for residents of the community, it fills the city’s growing need for residential development.
The close proximity to Dallas-Fort Worth International Airport drives investment in multi-family housing, Warrix said.
“We frequently get calls asking about the availability of vacant land primarily for multi-family development,” Warrix said. “Euless is near building out. There simply isn’t a lot of available land that’s vacant for development in the city, and that’s an issue for folks wanting to do similar projects.”
The completion of Watercolor represents one of the last remaining large tracts available for development in the city, Warrix said. Once it’s built out, there will be few significant parcels available to accommodate large-scale development, he said.
“Any opportunities going forward for any large-scale type of mixed-use developments or multi-family developments will in all likelihood be the result of a redevelopment project taking existing developments that have reached their economic life and redeveloping those sites into something else,” Warrix said.
