If you ask local residents which development signals a bright future for our community and which causes the most concern, chances are you’ll hear the same answer to both questions: the Lake Highlands Town Center.

Most see the project as the first domino in a series of retail redevelopments that will move Lake Highlands into a new era of growth and renewal.

Recently, however, many have begun to doubt the project's viability following the downturn in the economy.

Construction at the site seems to have slowed and reports have surfaced that it may be in trouble. Newly posted rezoning signs are raising eyebrows, as well.

LH Today asked Prescott Senior Managing Director and LHTC Project Manger, Stephanie Colovas, to help separate fact from fiction.

“Yes, the overall economy and credit markets are still a major hurdle,” says Colovas. “But we’re planning for Phase One of the project to be complete in 2012, and we’re very optimistic the entire project will be a major success.”

Ms. Colovas provided the following update, which includes the recent rezoning requests:

Ongoing Site Construction: Infrastructure construction is continuing on site as planned. The grading and utility installation are nearly complete. Construction of the streets and public park are the final two infrastructure phases. Those are imminent and will continue through the end of this year.

Rezoning Request: As of Sunday, August 23rd, rezoning signs went up around the LHTC property. Prescott has requested a series of changes to the current rezoning but none include height or density changes to the current zoning of the property.

“Prescott is not seeking any changes to the height, density, or the amount of buildable area within the overall master plan," reports Colovas.

“Most changes are housekeeping in nature,” she says. “The intent is mainly to seek flexibility in some of the interpretations and language of the zoning, while keeping within the original spirit of the planned development.”

According to Ms. Colovas, a few examples of the request for changes include:

1. Street details be coordinated between the City of Dallas plat, street plan and development plan. This is an administrative request to make sure that all documents are consistent with one another.

2. Flexibility on the tree spacing along the streets. The amount of total caliper inch requirement would remain the same, but the result will allow Prescott to create a more established feel for the LHTC when it is opened (i.e. larger trees vs. lots of small trees).

3. A request to re-direct the hike and bike trail on the north side of Walnut Hill Lane, so that rather than dead-ending at the north property line, the trail will turn right onto Whistle Stop Place and terminate at the DART light rail station.

4. A request to expand the signage criteria within the development. The original PD was fairly non-specific about signage, so Prescott is requesting more defined language.

5. A request for a reduction of sidewalk width in a few places that are pinched due to accommodation for loading dock areas, proximity to property lines or challenges with the topography of the site.