Council approves sale framework for 22 acres on west side; AAB Venture Capital proposed as buyer

The Flower Mound Town Council on July 21 approved a Chapter 380 conveyance structure and related purchase‑sale agreement mechanics for 22 acres on the town’s west side, clearing the way for a proposed development by AAB Venture Capital.

Town staff described the parcel as the 22‑acre tract purchased by the town in 2024 to secure retail opportunities on the west side and showed two concept layouts presented by the prospective buyer. Ray Watson (staff) explained the conveyance mechanism would use a Section 380 structure to transfer the land while preserving town control over the plan and architectural character; the sale closing would be tied to completion of Denton Creek Boulevard and other infrastructure milestones.

The nut graf: Staff and the developer described the transaction as a strategy to replace prior warehouse proposals with retail, grocery and entertainment uses that town leaders say would better serve residents in the western neighborhoods.

AAB representatives Viva Sapa and Clint Holland presented two conceptual options: Option 1 included an entertainment anchor (examples cited included bowling/entertainment centers) set near the railroad tracks with Hill Country‑style architecture; Option 2 replaced the entertainment anchor with a grocery and added additional retail, increasing projected annual sales‑tax value by roughly $300,000 in staff estimates. Watson said the development pro forma showed projected annual revenues of about $26,000,000 and projected annual sales tax of about $2,100,000 for one concept; staff also described earnest‑money terms and a $250,000 broker commission to Wicker and Associates.

Council discussion emphasized the parcel’s history: a prior warehouse proposal prompted opposition, and the town’s purchase in 2024 was described by council members as a move to reduce density and secure retail amenities. The proposal drew no public comment at the public hearing.

A motion to approve regular item J2 passed by unanimous roll call; the transcript records “Aye” votes from Council members Warner, Taylor, Deputy Mayor Pro Tem Schistel and Council member Drew. Staff noted the Chapter 380 transfer does not itself grant later incentive packages but said individual projects could be considered for incentives later if council chooses.

The ending: Staff and the AAB team said road completion and infrastructure are the primary gating items; AAB said it intends to market both concepts to prospective tenants and anticipates a phased buildout once Denton Creek Boulevard and utilities are complete.