The City of Lewisville has been actively facilitating discussions between current property owners and potential developers interested in redeveloping the Vista Mall property, in alignment with the Lewisville 2025 Vision Plan and the Southern Gateway Development Plan. The City has met with the owners on various occasions over the years and we are currently in the process of finalizing the site plan in collaboration with the owners.

In the 2024 Bond Election, voters approved $32,228,582 for the Vista Mall public street infrastructure project. The redevelopment plans envision creating a true mixed-use destination, featuring multifamily housing, office spaces, retail, entertainment, and more. Next steps include negotiating with the owners on the final master plan, drafting a planned development ordinance to solidify the mix of uses on the property, and establishing a development agreement with the owners and development partners to ensure sufficient investment and strong partnerships between all parties involved.

The City has submitted lake redevelopment plans to the U.S. Army Corp of Engineers for approval. The proposed plans include development of a hotel.

The Economic Development Department's strategy for targeting businesses is aligned with the Lewisville City Council's priorities, the Lewisville 2025 plan, and other long range plans. As it relates to economic development, the Lewisville 2025 plan has five main focuses: Old Town Lewisville, the Lake District, the Northern Gateway, the Southern Gateway, and Economic Vitality. Each area has it's own vision and goals for growth. Use this link to learn more about each plan.

The Lewisville Economic Development Department's goal is to attract industry and investment, create jobs, and grow the local economy. The department offers programs and incentives supported by tax dollars to enhance Lewisville's quality of life by providing high-quality development, infrastructure, and enhancing and expanding the city’s economy. This sometimes involves offering incentives to attract investment and business to the community. The city works to negotiate incentive agreements that aim for a fair and reasonable return on investment for taxpayers. For more detailed information on the programs and incentives, you can visit the Economic Development website.

Someone should contact the Economic Development Department in the following situations:

1. New Business: If you're planning to start a new business in the city and need guidance on available resources, incentives, or suitable locations.
2. Expanding or Relocating a Business: When you're considering expanding or relocating your business within the city and want to explore potential incentives, site selection, or assistance with permits and regulations.
3. Seeking Financial Incentives: If you're interested in learning about financial incentives such as tax abatements, grants, or other economic development programs that the city may offer to support your business.
4. Navigating City Processes: When you need help understanding or navigating city processes.
5. Exploring Development Opportunities: If you're a developer interested in exploring real estate or development opportunities in the city, particularly in areas targeted for revitalization or growth.
6. Building Partnerships: When you're looking to collaborate with the city on initiatives that support economic growth, such as workforce development programs, business retention strategies, or community development projects.
7. Understanding Market Data: If you need access to market data, demographic information, or other research that can help you make informed business decisions.
8. Engaging in Public-Private Partnerships: When you're interested in exploring or establishing public-private partnerships for significant development projects or infrastructure improvements.

Contacting the Economic Development Department early in the planning stages can help ensure that you receive the guidance and support necessary to navigate city processes effectively and take advantage of available resources.

Due to the presence of the Dallas-Fort Worth Airport, City management adopted an aggressive approach to developing the industrial base in Lewisville during the 1970s. As a result, much of the land in the City was zoned for light industrial use.The City cannot unilaterally rezone all light industrial property. According to the CoStar Group in 2024, Lewisville as an industrial node is well balanced. In comparison to 17 other surrounding cities, Lewisville ranked squarely in the middle, No. 9, both for total square footage and percentage of total land area used for industrial. Lewisville has a very low industrial vacancy rate. In Q1 of 2024, the occupancy rate was 97%. The CoStar Group trends show that occupancy rates are anticipated to stay at or above 95% over the coming years.

Multifamily development has increased dramatically since the pandemic, in the DFW Metro, as well as all over the United States. In Lewisville specifically, the boom is due to population growth, migration trends, a business-friendly environment, relative affordability housing compared to other markets, and levels of rent growth forecasted. The first step in developing the quality of life that the residents of Lewisville deserve, we need a robust population that can make sure the businesses, restaurants and retail can thrive. The City relies on adopted Long Range Plans to determine suitable locations for multifamly development. Use this link for more information about Lewisville's Long Range plans.

The City of Lewisville is required to file all Chapter 380 of the Texas Local Government Code agreements and Chapter 312 of the Tax Code agreements with the Texas Comptrollers Office. Use this link to search the database. For all other agreements, you may fill out an open records request. Use this link to access the Public Records Portal.

Through the application process, the Economic Development Department will assess the necessity of economic development incentives, the anticipated return on investment, and the project’s alignment with our community goals. Depending on the incentives requested, the project may undergo a review by a third-party underwriter to evaluate feasibility and conduct a gap analysis.

In the review process of a potential project, the Economic Development Department will consider the following: does the project align with the City's development vision, the capacity of the project development team, jobs created, project readiness, project feasibility, and the need for City economic development incentives.

The Economic Development department offers a variety of incentives, including tax abatements, development fee waivers or reductions, and Chapter 380 agreements under the Texas Local Government Code (for example: reimbursements for sales tax, business personal property taxes, and real property taxes). Additional incentives include neighborhood empowerment zones, Texas Enterprise Zones, and freeport designation.

Several grant opportunities are also available, such as funding for backfilling vacant buildings, supporting destination retailers and restaurants, facade improvements, grease trap installations, and speculative projects. To further support affordable housing, the City has established a Public Facility Corporation dedicated to creating and preserving affordable housing. A copy of the Economic Development policy can be found here on our website.

If a business fails to fulfill the commitments outlined in the executed economic development agreement, the terms of the agreement will govern the outcome. Typically, agreements are structured in one of two ways, subject to notice and a cure period: either the business forfeits incentives for the year in which it did not meet the requirements—without impacting its eligibility for incentives in subsequent years—or the agreement will terminate, rendering the business ineligible for further incentives.

When a potential project seeks incentives from the city, the applicant will complete the City of Lewisville Incentive Application. This application is designed to gather detailed information about the firm and the proposed project, allowing us to assess the necessity of economic development incentives, the anticipated return on investment, and the project’s alignment with our community goals. Depending on the incentives requested, the project may undergo a review by a third-party underwriter to evaluate feasibility and conduct a gap analysis.

If the department and the applicant reach an agreement on the proposed incentives, the department will brief the City Council in executive session to receive direction. Following the Council's guidance, the department will issue an offer letter to the applicant. Should the applicant agree to the terms outlined in the offer letter, the department will work with the City Attorney's Office to draft the necessary agreement(s). Once the applicant has signed the economic development agreement and submitted Form 1295 (conflict of interest), the department will place the agreement on the City Council agenda for consideration.

We understand the importance of having convenient access to fresh food and groceries, and this is a priority in our development plans. Currently, the City of Lewisville is actively exploring opportunities to attract a grocery store to Old Town and/or other areas of the City. There are several factors to consider, including market, population density, and suitable locations. Although we do not have a specific timeline at this moment, we are committed to making continuous progress and will keep the community updated as new developments arise.