Dirt could be turned on a new $325 million mixed-use development near the Interstate 80 and Grand Prairie Parkway intersection in Waukee next spring, developers behind the project said.

The Kettlestone Lakes development is 130 acres northwest of the interchange and will include restaurants, retail, a hotel, entertainment, breweries or tap rooms, and some office space. It will also feature about 8 acres of ponds and nearly 4 acres of park space. Space for a corporate headquarters and some residential, including high-end apartments, are also planned, said Bill Spencer, president and CEO of Landmark Cos. Inc., the development firm behind the project.

“This was an opportunity that presented itself to us about a year and a half ago,” he said. “We knew we had land on the [West Des Moines side] of the interstate, so we would really like to have land on the Waukee side. So we tried really hard to get this piece of property bought.”

He said the changes in topography on the land where Kettlestone Lakes will be developed make it attractive and provide opportunities to do something creative.

“We like this piece because of its topography,” Spencer said. “We really like it because it has interstate visibility. It’s just such a unique piece of property. The location is great, and we felt we could do some things on this piece of ground that isn’t being done in West Des Moines or Waukee. It has some topography to it, so we think we can do some really interesting and neat things.”

Spencer said there will likely be a 20-foot elevation change between ponds, “giving us the ability to be more creative with how we run our streets through the area.”

Mike Bonnett, president and broker with Landmark, said Kettlestone Lakes will be a great opportunity to continue to develop areas of Waukee.

“We have developed between 800 and 900 acres in Waukee,” he said. “It’s an amazing community to be in. When we saw this opportunity come up, I think we all knew right away that this was something we wanted to take a run at.”

Landmark has primarily focused on single-family development and evolved to include some commercial and multifamily. One of those developments is Stratford Crossing, a 237-acre mixed-use development across from Waukee’s newest high school.

Spencer said the goal is to bring several new restaurants to the area.

He said Landmark has been traveling to other cities, including Chicago, Kansas City, Mo., and Omaha., Neb., to attract new restaurants to the metro.

“We’ve been making a hard, conscientious effort to try and find some of those companies, and we’re starting to slowly make some progress with that,” Spencer said. “But because this is a new project, we have to demonstrate that we are going to do what we say and we fully intend to make this a really unique and neat development.”

The ponds may also feature upscale lighted fountains with dancing water features, Spencer said.

Bonnett said Landmark is also “actively engaged” with a couple of hotels for the site.

“They see this area … and are watching this corridor with all the activity that is going on,” he said. “We all believe there is enough room for more hospitality in this area.”

Landmark is also working to line up some preliminary businesses in hopes of helping to create a clearer vision of what Kettlestone Lakes will look like, Bonnett said.

“That’s usually one of the first questions is ‘Who are my neighbors going to be? Who else is going to be out here?’” he said. “They want to know what the landscape is going to be and what it’s going to look like. So we’re working hard to be able to answer those questions. We have several groups that we’re working with. We can hopefully work with them and the time is right where we have the ability to be flexible in how we can design these lots. We’re just trying to line up the dominoes right now.”

Landmark is continuing to work with the city of Waukee on a master plan for Kettlestone Lakes, and Spencer said he hopes to have some commitments from companies before finalizing a master plan and submitting it to the city before the end of the year.

He believes dirt will begin moving by spring 2025, with streets put in and parcels being available for sale by fall 2025, and construction on some parcels beginning that fall.

Spencer said the Kettlestone Lakes development will complement the growth and improvements already happening in the area.

“With the growth that the western suburbs are seeing and in Dallas County in particular, there is tremendous need for continued commercial growth from a retail standpoint,” he said. “We look at this as necessary just to keep meeting the demands that are being placed on the community.”

Kettlestone Lakes by the numbers
Cost: $325 million
Size: 130 acres
Retail: Approximately 31.4 acres
Hotels: Approximately 9 acres
Residential: About 14 acres
Office: 31.2 acres
Parks: About 5 acres
Ponds: Up to 9 acres (2-3 ponds)