Colleyville council approves 22‑acre sale for proposed resort, state highway transfer and business incentives

Colleyville City Council on Aug. 5, 2025, voted unanimously to approve a series of measures that together move forward a proposed luxury resort at the city’s Northern Gateway, accept transfer of State Highway 26 from the Texas Department of Transportation and authorize small business incentives and several contract amendments.

The 7‑0 votes included: a purchase and sale agreement with New City Capital Partners for 22 acres at the Northern Gateway; a turnback resolution to accept State Highway 26 from TxDOT; a landscape maintenance agreement linked to a Green Ribbon grant; economic development reimbursement grants for Luxor Custom Jewelers and Colleyville Florist; and an amendment to City Manager Jerry DeKay’s employment agreement.

The land sale and resort concept

Assistant City Manager Mark Wood said the city’s contract with New City Capital Partners covers 22 acres of the Northern Gateway and sets the sale price at $10 per square foot, “which equals $9,850,000.” Wood said the contract gives the buyer an 18‑month approval window (120‑day feasibility period plus a 420‑day approval period) during which the developer will secure a hotel brand, financing and necessary studies. He said the buyer’s right to exercise an option is contingent on closing, execution of a city developer agreement and final zoning approval by the City Council.

Wood described the developer’s initial concept as an upscale resort with a convention center, rooftop restaurant, spa and casitas, noting the project is at an early, changeable stage. "They want to create sort of an oasis," he said, and emphasized the buyer’s stated intent to preserve mature trees and the site’s topography.

Why it matters: the council’s sale of part of the Northern Gateway would generate proceeds that the city noted exceed the original 2020 purchase price for the entire 37‑acre tract.…