A nearly 21-acre, $45 million mixed-use development is headed to Corinth later this year following a recent land purchase by Realty Capital Management LLC.
Dubbed the “Parkway District,” the development will include an estimated 275 high-end multi-family residences and townhomes, 20,000 square feet of retail space, a hotel and public green space with trails. The project is aimed at bringing a walkable community, complete with public amenities and entertainment spots, to the city. It’s expected to break ground in late 2023.
The project is part of a larger planned expansion of new developments along the city’s Interstate 35E corridor and will be one of the largest initial contributors to the Tax Increment Reinvestment Zone, according to a news release from the city. TIRZs are special zones created by municipalities to attract new investment by contributing funds to redevelopment costs for public improvements.
“This is the first of many mixed-use developments for the city of Corinth,” said Corinth City Manager Scott Campbell. "The city is fortunate to partner with Realty Capital to build this tremendous opportunity for Corinth that will drive jobs and investment.”
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AMBER GAUDET can be reached at 940-566-6889 and via Twitter at @amb_balam.
