I live just east of Frisco’s $5B mile so I see day in and day out the transformation happening along this 1 mile stretch of land (my house is the blue star in the picture below).
On Wednesday September 9th, Old Capital hosted a banker’s lunch at the Park Cities Club with Frisco EDC director John Bonnot as the speaker. He shared an update with approximately 25 bankers from across the DFW metroplex. Here are 5 things I learned about $5B mile in Frisco:
- The 4 projects total over 549 acres with over 14M SF of commercial space being developed. A large percentage of the commercial space is expected to be office. All of these 4 projects are fighting for a large corporate user in order to really start construction of office buildings in the area.
- The Star in Frisco is the furthest along in construction as the stadium is halfway built and will be opened for Fall 2016 season. Most developers seem to be waiting for Jerry Jones to finish the stadium and they will all follow along right after him. Over the past year, there has been a minimum of 5 cranes on the site at all times.
- Over 1,300 hotel rooms will be added on this one mile stretch, which will bring conventions and allow tourism in the city to continue to grow.
- Over 43K direct jobs are estimated to be created from these projects, which will drive Frisco population to an estimated 350,000 people at full buildout.
- These projects are really at the southern end of Frisco, but there are over 11 other projects of size that include: Texas Scottish Rite Hospital, Grand Park, Frisco Commerce Center, and Frisco North that will be complementary uses to these large mixed use projects.
In order to learn more about these projects, please go to the DFW CRE Lending Series presentation here:
Frisco continues to be one of the fastest growing cities in the country due to great schools, new housing availability, unique sporting venues, and plentiful retail.
If you are looking to invest in Frisco or the surrounding area, feel free to reach out to me at: jeng@oldcapitallending.com or 214-300-5035.
