The Marco in Prosper, TX: Venice-Style Lagoon Village, Builder, Location, Timeline and Nearby Homes

Updated October 29, 2026

Prosper is getting its own little piece of Venice. On October 27, 2026, the Prosper Town Council unanimously approved zoning for The Marco, a 143-acre, roughly $2 billion mixed-use village from Blackard Companies. It's planned for the northeast corner of the Dallas North Tollway and U.S. 380. The plan centers on a lagoon of about 15 acres with canals big enough for boats, a pedestrian promenade, waterfront hotels, more than 1 million square feet of offices, and up to 4,400 homes. Town Manager Mario Canizares called it "the biggest [project] in the town's history."

Below we cover what The Marco is, who's building it, exactly where it is, when it could open, and what it means for the homes and neighborhoods around it, whether you're buying, selling, or investing in north Collin County.

Image: Conceptual rendering of The Marco's lagoon and canal promenade. Rendering courtesy Blackard Companies, as published by Community Impact. The final design may change.

Key Takeaways

• Name: The Marco, named for Venice's Piazza San Marco and the explorer Marco Polo.
• Developer: Blackard Companies (McKinney), led by Jeffory "Jeff" Blackard, the developer behind Adriatica Village in McKinney. Bill Cawley of Cawley Partners is a partner.
• Location: 143 acres at the NE corner of the Dallas North Tollway (DNT) and U.S. 380 (University Drive) in Prosper.
• Scale: An estimated $2 billion. Plans include a 15.5-acre navigable lagoon and canals, 1M+ sq ft of Class A office space, up to two hotels, a market hall and grocery, entertainment, and a possible Prosper ISD performing arts venue.
• Homes: Up to 4,400 units: as many as 1,000 villas, townhomes, and other single-family or duplex homes; 400 high-rise residences; 500 age-restricted apartments; and 2,500 mid-rise apartments.
• Timeline: Zoning was approved Oct 27, 2026. Development agreements are targeted for the end of 2026, the land purchase could close in Q1 2027, and lagoon and infrastructure work is expected to start in late 2027. No opening date has been announced.
• Market today: Prosper's median sale price was $840,125 for the three months ending September 2026, down 2.3% year over year, with homes taking a median of 101 days to sell (Redfin). For now, buyers have more room to negotiate than they did a few years ago.

The Marco at a Glance

What Is The Marco? A Venice-Inspired Village on the Tollway

Jeff Blackard calls his Old World approach "Neoretroism." He has spent years studying European villages and how people move through them. Adriatica Village in McKinney, a 45-acre district modeled on Supetar, a fishing village on Croatia's island of Brač, is the best-known local example. The Marco is more than three times that size and uses Venice as the model, so water is at the center.

According to the Dallas Morning News, the idea came from Blackard's close study of Venice and his wish to bring people and water closer together. The lagoon also does a practical job: it's the site's stormwater detention. "Otherwise I'd have to build a 10-acre detention pond," Blackard told the Planning & Zoning Commission in August. "I might as well build a 15-acre lake." Water taxis are listed as a permitted use on the canals.

The layout puts people first. Traffic and parking sit on the outer ring of the site. The 26-foot-wide passeggiata (Italian for a leisurely evening stroll) wraps around the lagoon. The tall office buildings go on the hard corner at DNT and 380, where the Town says they'll "naturally buffer traffic noise" for the waterfront village inside.

Planned Uses

• Lagoon and canals: About 15.5 acres of water, the main open space, and the site's stormwater system.
• Corporate campuses: One or two campuses plus smaller offices, 1M+ sq ft in total.
• Hotels: Up to two full-service hotels, one on the west edge of the lagoon and one on the east.
• Market square and grocery: Planned for the northwest corner, next to the lower-density villas and townhomes.
• Performing arts: Prosper ISD voters approved $125 million for a performing arts center in the district's 2023 bond. Blackard hopes to partner with the district on a theater that could host school and professional shows, possibly inside one of the hotels. As of September, nothing had been finalized.
• Entertainment, dining, and a market hall around the waterfront.

Who Is the Builder and Developer?

Blackard Companies is a McKinney-based developer. Its principal is Jeffory D. Blackard. FOX 4, citing a company press release, reports the firm has delivered about $7 billion in real estate since 1981. Blackard's portfolio site says it has created more than 15,000 home sites across 30+ communities and lists its role on The Marco as developer, entitlement, and master plan.

Blackard's European-style projects include Adriatica Village (McKinney), Entrada (Westlake), and the planned Barisi Village (Corpus Christi). The Dallas Morning News reports that Bill Cawley of Cawley Partners, a major development partner on the Dallas Stars' planned $3 billion arena district at the former Willow Bend mall in Plano, is partnering on The Marco.

Home builders: No homebuilders have been named for the villas, townhomes, or condos, and no apartment operators have been announced either. We'll update this post when they are.

Where Exactly Is The Marco?

The site is 143 acres at the northeast corner of the Dallas North Tollway and U.S. 380 (University Drive) in Prosper. No street address has been published yet. Prosper officials call the corner "one of the region's premier growth corridors."

• DNT extension: NTTA's Phase 4A extension of the Dallas North Tollway, from U.S. 380 north to FM 428 in Celina, is scheduled to open in late 2027. Once it does, Prosper will have about 3 miles of tollway on each side, according to Community Impact. That puts The Marco on the tollway's new northern frontier instead of at its end.
• Just across 380: The Fields master plan in Frisco sits along the tollway corridor just south of U.S. 380. (See our guide to The Fields in Frisco.)
• To the east: The Gates of Prosper, Blue Star Land's retail district at Preston Road and U.S. 380, includes Barnes & Noble, Total Wine, REI, and others. A later phase was approved to add more retail, apartments, and single-family lots.
• Drive times from Prosper (typical estimates, traffic varies): The Star in Frisco 15–20 min, Legacy West in Plano 20–25 min, DFW Airport 35–40 min, downtown Dallas 40–45 min.

When Will The Marco Open? Timeline and Phases

About the start date: Coverage based on Blackard's press release (FOX 4, Texas Construction Hub) said construction could begin by the end of 2026. More recent reporting after the vote (Community Impact and the Dallas Morning News) says lagoon and infrastructure work is expected in late 2027. We use the later date. Either way, The Marco is a multi-year build. Under the zoning, no apartments can open until the lagoon is complete, so the water and public spaces come first.

Blackard has described Phase 1 as the lagoon, utilities, and infrastructure plus some retail, residential, and office pieces. The Town says the project will be built "over the coming years, beginning with foundational infrastructure and central features."

Homes at The Marco: Unit Mix and Rules

After feedback from town officials, the approved version added several conditions:

• No residential units can open until the lagoon is finished.
• After the first 1,000 mid-rise apartments, at least 30,000 sq ft of retail and restaurants must be built before more apartments.
• Mid- and high-rise multifamily is prohibited in certain areas.
• Every apartment building must have open space and a pet area.

Prices: Prices, rents, and HOA dues for The Marco haven't been released. For context, new-home base prices across Prosper ran from about $507,990 to $1,499,900 in October 2026 (Texava). Waterfront condos and villas in a walkable village are a new product type for Prosper, so expect their pricing to be set on its own terms.

Homes and Neighborhoods Around The Marco

Most of Prosper is single-family master-planned communities on larger lots. The Marco adds walkable, mixed-use, lock-and-leave living that Prosper hasn't had. Here's how nearby neighborhoods compare right now:

Other Prosper neighborhoods worth a look are Lakes of Prosper, Whitley Place, Gentle Creek Estates, Saddle Creek, and Frontier Estates. North of Prosper, Celina's master plans grow along the coming DNT extension.

Schools

The Marco is in Prosper and expected to be in Prosper ISD, which may also partner on the performing arts venue. PISD high schools include Prosper High, Rock Hill High (16061 Coit Rd, Frisco), and Walnut Grove High (3500 E. First St, Prosper). Attendance zones for The Marco haven't been published. PISD redraws boundaries as it grows, so always check a specific address with the district.

Prosper Market Snapshot (Fall 2026)

Source: Redfin, data through September 2026. In short, Prosper is a negotiable market right now. Homes are sitting longer and more than half of listings have had a price cut. Even so, the town is drawing a $2 billion project to its main intersection. That combination of a soft market today and a major long-term draw is something buyers and sellers should both factor in.

What The Marco Means for Buyers, Sellers, and Investors

For Buyers

• Buy what exists today. The Marco is years from opening. Nearby resale and new-construction homes are available now, often with builder incentives.
• Price in the construction years. Expect heavy equipment, detours on 380 and the DNT, and dust once work starts.
• Think about distance. Living a short drive away may be the best of both: you get the amenities without the traffic at your door.

For Sellers

• Use the story, but don't oversell it. "Minutes from The Marco" can help a listing. Just don't promise dates or values nobody has announced.
• Watch the competition. In neighborhoods with lots of new construction, builder buydowns compete with resale. Price against the actual comps.
• Timing: Approval news and the DNT extension opening in 2027 could bring more buyer attention to the corridor. Watch leading indicators like mortgage applications. See our guide to the MBA Mortgage Applications Index.

For Investors

• Plan for apartment supply. Up to 2,500 mid-rise apartments are allowed, phased in and tied to lagoon completion and retail. That could cap rent growth for single-family rentals right next to the site over time.
• The draw is jobs. 1M+ sq ft of Class A office, if leased, would bring daytime workers and rental demand. Watch for named corporate tenants.

Step-by-Step: How to Evaluate Living Near The Marco (or Investing)

1. Map your distance. Pull up the NE corner of the DNT and 380 and look at where you'd actually be: walking distance, a 5-minute drive, or 10+ minutes. The pros and cons change at each distance.
2. Check the official record. Read the Town of Prosper's planned development documents and watch for the four development agreements expected by the end of 2026. Those agreements set incentives, building standards, and open space.
3. Track milestones, not promises. Watch for the land purchase closing (targeted Q1 2027), the start of lagoon work (late 2027), and named tenants or builders. Each one makes the project more certain.
4. Compare carrying costs. Ask about the tax rate, any MUD or PID, and HOA dues for each home you're considering. These vary widely across Prosper.
5. Verify schools by address. Confirm Prosper ISD attendance zones directly with the district.
6. Price against today's market. Use recent closed sales, days on market, and months of inventory, not future headlines. Prosper's median days on market was 101 recently, so there is room to negotiate.
7. Plan for construction years. If you're close, think about noise, traffic, and how long you plan to stay. Buyers who plan to hold through the build-out may benefit most.
8. For investors: model conservatively. Factor in apartment supply coming online, assume opening dates may slip, and stress-test your rent and appreciation assumptions.

How The Marco Fits Prosper's Growth

Prosper has managed its frontage on the tollway carefully, and the DNT extension makes this corner a gateway. Officials say a one-of-a-kind project like The Marco is the best use of that land. It's also a different direction for a town known mostly for single-family homes: a dense, walkable district with offices, hotels, and housing for several life stages, including seniors and empty nesters. Some commissioners pushed for more detail on permitted uses, building heights, and unit sizes along the way. Council approved it only after Blackard tightened the rules on multifamily. As Mayor David Bristol put it, "This project aligns with Prosper's dedication to high-quality development, economic opportunity, and exceptional quality of life."

Frequently Asked Questions

What is the Venice-style development in Prosper called?

It's called The Marco, after Piazza San Marco and Marco Polo. It's a 143-acre mixed-use village built around a lagoon and canals.

Who is building The Marco?

Blackard Companies of McKinney, led by Jeff Blackard (developer of Adriatica Village), with Bill Cawley of Cawley Partners as a partner. Homebuilders and operators haven't been named.

Where is The Marco located?

At the northeast corner of the Dallas North Tollway and U.S. 380 (University Drive) in Prosper, Texas.

When will The Marco open?

No opening date has been announced. Zoning was approved October 27, 2026. Lagoon and infrastructure work is expected to start in late 2027, and no apartments can open until the lagoon is done.

Will there be homes for sale at The Marco?

Plans allow up to 1,000 villas, townhomes, and other single-family or duplex homes plus up to 400 high-rise condos or apartments. How many will be for sale versus for rent, and at what prices, hasn't been announced.

Can you really ride a boat at The Marco?

Conceptual plans call for canals large enough to navigate by boat, and water taxis are listed as a permitted use.

How much will The Marco cost?

A project representative estimated the investment at about $2 billion.

Will The Marco raise nearby home values?

Nobody can promise that. Big amenity districts can increase buyer interest, but construction, apartment supply, and the wider market all matter. Today Prosper prices are slightly down year over year, so make decisions on current comps.

What school district serves The Marco?

It's expected to be in Prosper ISD, but campus assignments haven't been published. Check with the district.

Related Reading

• The Fields Frisco TX: Homes, Fields West and 2027 Outlook
• Why Buyers and Sellers Should Track the MBA Mortgage Applications Index
• Denton, TX Real Estate Market Update: October 2026

Sources

• Town of Prosper: Town Advances Plans for The Marco Development
• Community Impact: Prosper greenlights $2B Venetian village on Dallas North Tollway
• Community Impact: Venetian village on the tollway advances to Prosper council
• Dallas Morning News: Prosper approves rezoning for Italian-inspired village
• FOX 4: Prosper approves zoning for $2 billion Italian-inspired village
• WFAA: Prosper Town Council advances plans for Venetian-inspired development
• Local Profile
• NTTA: Dallas North Tollway
• Redfin: Prosper housing market

Disclaimer: This article is for general information only and is not legal, financial, or investment advice. Details about The Marco come from public records and news reports as of October 29, 2026, and are conceptual and subject to change, including uses, unit counts, timelines, and partners. Market statistics come from third-party sources and may be revised. Renderings are conceptual and courtesy of Blackard Companies. Verify schools, taxes, and HOA/MUD/PID details for any specific property.

Thinking About Prosper or North Collin County?

Whether you want to buy near Prosper's next big landmark, sell into the growing buzz, or just compare neighborhoods, OnDemand Realty can help you make the decision with real data. Visit www.ondemanddfw.com to search homes and connect with our team.