Extensive Multi-Billion Dollar Development Coming to Frisco in North Dallas

Firefly Park: $4 Billion Mixed-Use Urban Village Approved in Frisco

In Collin County, north of Dallas, the City of Frisco is on a multibillion-dollar roll.

The latest announcement concerns the approval in March for the mixed-use Firefly Park development, an estimated total investment of between $2.5 and $4 billion.

Wilks Development LLC promises that the 217-acre Firefly Park will be an urban village combining three million square feet of commercial office space with 400,000 square feet of retail, dining, and entertainment space.

Also included will be a 45-acre destination park with playgrounds, an “iconic wedding chapel and event space,” a 3,000-guest amphitheater, seven miles of hiking and biking trails, and 1,200 hotel rooms. Partnerships with brands such as Hyatt’s Dream Hotels will assist in delivering some of the many entertainment and hospitality features.

The plan calls for 230 townhomes, 251 luxury high-rise units, and nearly 2,000 mid-rise and high-rise apartments. Additional phases to the overall project are reportedly planned over the next decade.

Collin County’s Rapid Population Growth Fuels Major Projects

Firefly Park is one of the latest major initiatives coming to Collin County in response to the area’s rapid growth. The county’s population has increased by 200,000 since 2000 and grown even faster, with an additional 47,000 residents between July 2023 and July 2024. That represents the fourth fastest population increase in the entire country.

An example of these initiatives is The Mix. As the Daily Commercial News reported, The Mix will transform a gaping hole near the Dallas North Tollway in Frisco into a $3 billion multi-use development.

The project is being assisted by $113 million in performance-based incentives and tax breaks from the Frisco City Council, the Frisco Community Development Corp., and the Frisco Economic Development Corporation.

Innovative Land Use and Pedestrian-Friendly Design at Fields

Nearby, the 55-acre, $2 billion Fields West project is already underway. It is described as a mixed-use village that will include office space, apartments, stores, restaurants, and two hotels.

Fields West is part of what is intended to be a $10 billion build-out of the larger Fields development, totaling 2,544 acres located on the northern edge of Frisco.

The Karahan Companies, in partnership with Hunt Realty Investments, Chief Partners, and Cross Tie Capital, co-developed and owned the Fields, which is “the largest, contiguous land assemblage in Frisco.”

The development partners wish to take advantage of what they describe as “topography unseen elsewhere in North Texas.”

Plans are to use the 200-foot variation in elevation across the property to create “an inviting pedestrian experience that links the entire community.”

This includes “trails that lead through stands of trees, a creek enhanced into a ‘Chain of Lakes,’ pedestrian bridges, hills overlooking golf and other engaging connections and vistas.”

Nine residential villages and neighborhoods are planned, featuring around 3,500 single-family homes.

Universal Kids Resort: $550 Million Family Destination Coming to Frisco

Also, on the Fields site and under construction today, with a possible 2026 opening, is the $550 million, first-of-its-kind Universal Kids Resort, which includes rides, restaurants, and a 300-room hotel.

The development team hopes The Fields will be a magnet for corporate headquarters relocations and expansions.

“Fields is one of the fastest-growing communities in the country and voted the number one place to live in America — safe, family-oriented and destined to become one of the biggest thriving business hubs in the country,” the Karahan website says.

“Frisco will steal your heart and beckon you home, and when you’re home, there’s really no reason to leave.”

Frisco’s Ambition: A Magnet for Corporate Headquarters and Business Growth

Nearby, Toyota Stadium, home to FC Dallas of the MLS, will benefit from a $182 million public-private partnership between the club and the City of Frisco to enhance the guest experience.

A roof structure to provide shade for fans, cutting-edge audio/visual technology, and other fan-first amenities is included. The improvements are expected to be completed this year.

The City of Frisco sees itself as “a first choice for established corporations and start-ups looking to accelerate the growth of their business, relocate to a dynamic city, or start a new enterprise with all the necessary assets for success.”

The significant developments planned and underway would undoubtedly point to that future.

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