More big news for Frisco as the Rudman Partnership, Hillwood Properties, and VanTrust Real Estate sign on the dotted line for the development partnership of Frisco Station, a $1.7 billion deal.
This 242-acre mixed-use development will be located along the Dallas North Tollway, north of Warren Parkway. It will surround the Star, the headquarters and training facilities for the Dallas Cowboys.
The development package outlines plans for 4 million square feet of office space, 2,400 multifamily residences, restaurants, entertainment venues, medical and wellness facilities, industrial space, and public parks and open spaces. The initial phase of development is expected to start in 2015.
“The city of Frisco continues to be a major center of growth in the North Texas region,” said Ross Perot, Jr., chairman of Hillwood and The Perot Companies. “We’re proud to be partnering with The Rudman Partnership and VanTrust Real Estate to develop this dynamic project in such an exciting regional corridor. Frisco Station will exemplify each of our best practices, including innovative urban design and long-term sustainability within the community.”
The Rudman Partnership and Rudman family affiliates have owned this land for more than half a century. They are behind quite a few office, medical, and residential real estate projects in Frisco.
Hillwood Properties will be the master developer of Frisco Station, which will include coordinating land planning and infrastructure development, and building the multifamily residential and non-office parts of the project. They are well known for their work as developers of the 18,000-acre AllianceTexas project in North Fort Worth, one of the most successful public-private partnerships in the country.
VanTrust Real Estate will develop Frisco Station’s office projects.
Frisco Station is designed to be “an intelligent and efficient destination…the innovative, entrepreneurial corporate community leader in Frisco with modern amenities, flexible workspaces, and a vibrant economic climate,” according to master plans.
Frisco Station is part of what Mayor Maher Maso is calling the “$5 billion mile.” Other components of that area will include:
• The Star: This 91-acre, $1 billion development will be world headquarters for the Dallas Cowboys, including a 12,000 seat multi-use event center, training facility, and two hotels with 480 rooms (one of which will be an Omni hotel). Projected opening date is summer 2016. Click here to watch a video on “Cowboys Alley”
• Wade Park: This 175-acre, $2 billion mixed-use project by Thomas Land Development will include 600,000 square feet of retail space, 1,300 residential units, 6 million square feet of office space, and about 500 hotel rooms. Click here to watch a video on Wade Park’s ties to a founding Frisco family
• The Gate: This $700 million development is projected to offer 2,400 multifamily units, 73 single-family homes, 4 million square feet of office space, about 250 hotel rooms (175 will be in a new Hotel ZaZa), about 200,000 square feet of retail/restaurant space, and about 415,000 square feet of medical office space. It will be developed by Dubai-based Invest Group Overseas.
