Prosper’s skyline is set to change again. The town north of Dallas, already one of North Texas’ fastest-growing communities, will see a major new development take shape after Daewoo Engineering & Construction signed on to co-develop the Prosper Pradera project alongside Orion RE Capital and Han River Asset Management.
Five Phases Of Growth
The project, formalized at Prosper City Hall, will roll out in five phases beginning with townhouse construction and expanding to residential housing, hotels and office space. Orion RE Capital, the landowner and lead developer, is spearheading the effort, with Daewoo E&C stepping in as a development partner rather than just a financial investor.
According to ChosunBiz, Prosper Mayor David Bristol welcomed the move, saying the town will support licensing and other steps to help the project succeed.
Why Prosper?
The announcement adds to a wave of investment in Prosper, where an influx of new residents and rising home values have drawn national and international attention. As previously reported by Local Profile, the area’s median household income of $187,603 and the average home value of $823,356. Prosper ISD’s nationally recognized schools and expanding enrollment, more than 32,000 students, add to its draw for families.
Just days ago, developers broke ground on Mirabella, a 190-acre gated community planned for nearly 300 luxury homes. That project, led by Tellus Group and Highland Homes, is part of a broader wave of high-end residential communities reshaping the region.
A Global Company Joins Local Momentum
As reported by ChosunBiz, Daewoo E&C’s Prosper project represents a deeper push into the U.S. market. The company established a local subsidiary in New York in 2023 to explore investment opportunities nationwide, participating in approximately 20 American projects as a financial investor. Chairman Jeong Won-joo said the company now aims to step into the role of “substantial developer and showcase the experience and strength of South Korean construction in the United States”.
Don't miss anything Local. Sign up for our free newsletter.
