The booming town of Frisco, Texas, is making headlines for its partnership with the Dallas Cowboys and the Frisco Independent School District to build the Cowboys’ new training facility. The Star is one of numerous projects this city, 25 minutes north of downtown Dallas, has to cheer about.
They’ve dubbed it the $5 Billion Mile, a one-mile stretch on the Dallas North Tollway between Warren Parkway and Lebanon Road in which $5.4 billion in capital investment has been announced or is under way, said Darcy Schroer, director of marketing of the Frisco Economic Development Corporation.
When complete, the projected development statistics tally: 549 development acres; $5.4 billion in potential investment; 14,585,000 commercial sq. ft. (1,354,990 sq m); 12,900,000 office space sq. ft. (1,198,449 sq m); 1,320 hotel rooms and 43,772 potential new jobs.
Frisco is ranked one of the top-three, fastest-growing communities in the nation, according to Thomas Land & Development LLC. Its population of 141,000 has seen 300-percent growth since 2000.
“Frisco is very unique,” said Stan Thomas, developer of the coming Wade Park. “They don’t want just development. They want quality that is laced together with amenities. They realize what the future needs to be.”
Stephen Jones, executive vice president and COO of the Dallas Cowboys, also had high praise for the city.
“Frisco is a city where they think big and they act bold,” Jones said. “They have a vision and they act on it. You knew right away we were on the same page. Their vision of what this project will be has changed very little. I give them tremendous credit for thinking outside of the box. It gives us great comfort to do business with people who think like this.”
The most heralded of the projects on the $5 Billion Mile is The Star, an estimated $219 million facility that will include an indoor stadium, underground parking garage, two outdoor practice fields and the Cowboys’ new headquarters building. It’s scheduled to open in June 2016.
“The big question is are we still on schedule for the fall 2016 opening?” said Mayor Maher Maso at a recent press conference. “Yes. We have 575 folks working seven days a week. Clearly this is important to the Cowboys. This is the midway point. This is about half the size of the original stadium. It’s a fairly major complex. There are seven cranes still on site.”
Frisco Assistant City Manager Ron Patterson said the first truss to support the roof of the indoor stadium is in place and fully installed.
“We have 11 more to go so there will be a total of 12,” Patterson said. “And that will be happening over the next couple months.”
Wade Park
Just one exit north on the Tollway, construction is under way on Wade Park, a 175-acre, mixed-use site that is said to bring “the big-city lifestyle” to Frisco. Crews broke ground in 2014 and vertical construction is set to begin this summer. Scheduled to open in spring 2017, the $1.6 billion development will feature 600,000 sq. ft. (55,741 sq m) of specialty retail anchored by a 45,000 sq. ft. (41,806 sq m) Whole Foods Market, plus premier entertainment venues, including iPic Theaters and Pinstripes Bowling. It also will feature luxury hotels, up to 6 million sq. ft. (557,418 sq m) of commercial office space, luxury apartments, condominiums and single-family residences.
Thomas Land & Development purchased the property from the Wade family, a prominent local family who owned the land for more than 100 years.
Frisco Station
Construction crews are expected to begin moving dirt later this year on Frisco Station, a 242-acre, mixed-use development from The Rudman Partnership, Hillwood Properties and VanTrust Real Estate. The proposed development is located to the west of the Dallas North Tollway and will feature office, multifamily, residential, retail, restaurant and medical facilities. The master plan includes more than 4 million sq. ft. (37,161 sq m) for office and corporate campuses and 2,400 multi-family residential homes.
“The designs have not been completely developed,” said Jason Meyer, spokesman of the project. “But Hillwood has a long-standing commitment to sustainable design. The bigger thing about Frisco Station is the incorporation of features such as bike trails and charging stations.
There is a real embrace of technology within the development, incorporating features on-site to create a better, healthier positive lifestyle.
“It’s going to be a very unique project for Frisco. What also makes Frisco Station stand out will be its location surrounding The Star complex and the arterials in the infrastructure are all going to be coordinated together. There will be an ease of transition within the projects.”
The Gate
The fourth project in the $5 Billion Mile is The Gate, offered by the Dubai-based Invest Group Overseas (IGO). This mixed-use development is to be located on nearly 41 acres at the northwest corner of the Dallas North Tollway and future John Hickman Parkway.
“True to its name, The Gate is conceived to be a gateway to the bustling corridor along the Dallas North Tollway in Frisco,” said Anaz Kozbari, CEO of Invest Group Overseas, according to Frisco’s EDC Web site. “The development will offer a refreshing take on the live, work, play environment in one of America’s fastest growing cities. When completed, it is poised to be a hub of opportunity for the businesses and residents who will make The Gate their address of choice.”
The $700 million development will feature high-rise, condominium-style residences, a boutique hotel, office space and destination retail and dining experiences, all located within a walkable environment.
The total square footage of all the projects is anticipated to result in more than 2.3 million sq. ft. (213,676 sq m) of new construction in Frisco.
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