The reality of Carillon Parc is soon to be.

After several delays, work is set to begin on the 42-acre project at White Chapel Boulevard and Texas 114 in Southlake, less than two miles from Town Square, the sprawling retail and restaurant destination that transformed the city when it opened 24 years ago.

John Terrell, co-founder/principal of Hunter Chase Development Partners, said groundbreaking is set for late February on the European-style mixed-use development. Like its neighbor Town Square, the pedestrian-friendly development will feature plazas, fountains and places to live among the shops and restaurants.

“Carillon Parc represents the culmination of years of visioning, planning, investment and citizen involvement,” Terrell said.

Concerning the name of the project, a carillon is a pitched percussion instrument played with a keyboard and consists of at least 23 cast-bronze bells. And yes, the project does have a bell tower.

The total development in the Carillon area is 285 acres, with all but the 42 for Carillon Parc having been built out with a little over 400 homes.

Carillon Parc will include:

• 79 single-family custom homes
• Shops
• Chef-driven restaurants.
• A hotel
• Offices
• 50 high-end residential lofts above shops
• A chapel

There’s also the possibility of a library and performing arts center. The city said in a statement that it is in the early stages of planning for a new library, but it is too early to discuss specifics.

The single-family homes will be built on 16 acres. The homes are likely to start at $1.8 million, with the lofts close to $2 million, Terrell said.

Southlake Mayor John Huffman said in a statement that council members and city staff are looking forward to seeing the project move ahead after five years of planning.

“The classic European design and retail amenities will be a beautiful complement to Town Square,” he said.

The first phase will begin this month and includes the infrastructure for the single-family custom homes and a portion of the commercial development. That will take approximately nine to 11 months, and construction on the single-family homes another year after that.

The second phase will begin within the next year.

The total development will probably take five years, Terrell said.

There will also be a park with entertainment venues. The park will feature fountains synchronized with motion, music and lights, including the bell tower.

“The development links to the city’s overall trail master plan and is designed to be very pedestrian friendly,” Terrell said.

Terrell said he can’t provide the names of the businesses that might be go in until they are under contract, but he has several letters of intent.

“The development is a true public-private partnership that will be another jewel and major economic driver within the city of Southlake,” he said.