Pilot Point City Council approved zoning and a $15 million incentive package in May for a planned mixed-use development called Pilot Point Town Center. The property, east of Pilot Point in northern Denton County, is now owned by Midas Investments and GC Land Partners. Midas purchased 53.8 acres, while GC Land Partners acquired 49 acres.
Plans call for homes, commercial space, restaurants, fast-food locations and large retail stores that could sell firearms. Buildings would be limited to four stories, with housing density allowed to reach 28 units per acre. A trail system is also planned to connect the residential and commercial portions of the project.
The site lies roughly one mile north of Lantern, a Hillwood project planned for 2,000 homes and supported by a reported $1.2 billion investment. Nearby developments include Centurion American’s Bryson Ranch, planned for 3,000 homes, and Green Brick Partners’ 586-acre Waterside project. Aubrey is about 12 miles northwest of Prosper.
FM 1385 and nearby U.S. Highway 380 provide access. Pilot Point is about 52 miles from the interior of the Dallas-Fort Worth area and roughly 45 miles by car from Thackerville, the closest Oklahoma city identified in the report. The Real Deal reported the information.
