If you haven't been to Grandscape in The Colony, Texas, you're missing one of the most remarkable destinations in the entire DFW Metroplex. Built on 433 acres along the Sam Rayburn Tollway, Grandscape is not a mall, not a strip center, and not a standard mixed-use project. It's a destination — and it's changing the real estate calculus for buyers across North Texas.
For families relocating to DFW, for investors evaluating growth corridors, and for buyers wondering why The Colony keeps outperforming its price point — Grandscape is a big part of the answer.
What Exactly Is Grandscape?
Grandscape is a 433-acre mixed-use entertainment and lifestyle center developed by Mehrdad Moayedi and Centurion American, one of DFW's most prolific real estate developers. Located at the intersection of the Dallas North Tollway and Sam Rayburn Tollway (SH-121) in The Colony, it was designed from the beginning not as a traditional retail center, but as a place people would drive from across the region to spend a full day.
Phase 1 of Grandscape opened in 2019 and has expanded continuously since. The full buildout will include more than 200 tenants — restaurants, entertainment concepts, retail, a hotel, residential components, and green space — all connected by walkable outdoor plazas, art installations, and a design aesthetic that's unmistakably Texas.
433
TOTAL ACRES
200+
TENANTS AT FULL BUILD
$1.5B+
TOTAL INVESTMENT
What's at Grandscape Right Now
Grandscape's tenant mix is unlike anything else in DFW. It was curated specifically to attract experiential, "destination-worthy" concepts that give people a reason to make the trip. Here's what's already open:
DINING
Grandscape has built one of the best restaurant lineups in all of North Texas. Highlights include Walk-On's Sports Bistreaux, The Rustic (a Texas institution with live music and a massive outdoor patio), Velvet Taco, Whiskey Cake, North Italia, Punch Bowl Social, Chicken N Pickle, Cane Rosso, Kona Grill, and dozens more. Whether it's date night, family dinner, or a post-game crowd, Grandscape has a concept for it.
ENTERTAINMENT
Beyond dining, Grandscape is home to Epic Waters Indoor Waterpark (one of the largest indoor waterparks in Texas), The Escape Game, Andretti Indoor Karting & Games, Main Event, and a state-of-the-art AMC Theatres complex. The activation schedule — concerts, events, seasonal festivals — runs year-round.
RETAIL & SERVICES
The retail lineup includes anchors like Nebraska Furniture Mart (1.8 million square feet — one of the world's largest home furnishing stores), alongside specialty boutiques, fitness studios, and personal care. Nebraska Furniture Mart alone draws more than 4 million visitors per year and operates as a destination in its own right.
THE GREAT LAWN & PUBLIC SPACES
At Grandscape's center is a beautifully designed Great Lawn — an expansive green space that hosts concerts, farmers markets, food truck events, and family gatherings. The outdoor plazas feature striking public art installations (including the iconic illuminated sculpture visible from the tollway), fire pits, water features, and dog-friendly seating. It's designed for lingering.
Grandscape's Impact on The Colony Real Estate
Here's what most buyers don't know: The Colony is still one of the most undervalued cities in the entire DFW corridor — and Grandscape is the clearest signal that this window won't stay open forever.
When a $1.5 billion entertainment and retail destination anchors a city, property values respond. We've seen it in Frisco with The Star and PGA. We've seen it in Plano with Legacy West. And we're seeing it now in The Colony, where homes priced well below comparable inventory in Frisco and Plano offer direct tollway access to the same amenity set.
THE COLONY REAL ESTATE SNAPSHOT · 2026
The Colony's location is frankly exceptional. You have Lake Lewisville to the west — a 29,000-acre reservoir with marinas, boating, and waterfront parks — and Grandscape to the east. The DNT provides direct access to Frisco, Plano, and downtown Dallas. Lewisville ISD covers most of The Colony and consistently earns strong ratings from the TEA.
For buyers priced out of Frisco but unwilling to compromise on quality of life, The Colony near Grandscape is one of the most compelling value propositions in North Texas right now.
Why Families Are Moving to The Colony
WORLD-CLASS AMENITIES
Grandscape, Lake Lewisville, multiple parks and trails — The Colony punches well above its price point on lifestyle.
TOLLWAY ACCESS
DNT and SH-121 put you at Frisco, Plano, and downtown Dallas without the premium of living in those cities.
VALUE PRICING
Median home prices run $100K–$180K below comparable Frisco inventory, with similar commute times and amenity access.
LEWISVILLE ISD
Consistently rated schools with strong academics and growing extracurricular programs across all grade levels.
NEW CONSTRUCTION OPTIONS
Several communities near Grandscape offer new builds from top builders, with modern floor plans and community amenities.
THE 'HIDDEN GEM' RUNWAY
The Colony is where Frisco was a decade ago — early buyers are getting the upside before it's fully priced in.
Getting to Grandscape
Grandscape sits at the intersection of the Dallas North Tollway (DNT) and Sam Rayburn Tollway (SH-121) — one of the most trafficked intersections in all of Collin and Denton counties. That placement isn't accidental: it's accessible from virtually every major North Texas suburb.
| FROM | APPROX. DRIVE TIME |
|---|---|
| Frisco | 10–15 min |
| McKinney | 20–25 min |
| Plano | 15–20 min |
| Dallas (Uptown) | 30–35 min |
| Celina | 25–30 min |
| Prosper | 20–25 min |
| Denton | 25–30 min |
The Bottom Line for Buyers
Grandscape has done for The Colony what The Star did for Frisco's western corridor and what Legacy West did for West Plano. It created a permanent anchor of activity, employment, and desirability that lifts the entire surrounding real estate market.
If you're looking for a North Texas home that gives your family world-class entertainment, lake access, great schools, and a shorter commute to Dallas — at a price point that still makes financial sense — The Colony near Grandscape deserves a serious look.
I've been helping buyers find value in overlooked North Texas markets for 18 years. The Colony is one of the last places where the gap between lifestyle quality and home price hasn't fully closed. I don't think that gap will be there for long.
Frequently Asked Questions
RELATED READING
