The City of Frisco, in Collin County north of Dallas, 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 is promising 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 area.
Also included will be a 45-acre destination park with playgrounds, an “iconic wedding chapel and event space,” a 3,000-guest amphitheatre, seven miles of hiking and biking trails and 1,200 hotel rooms. Partnerships with brands such as Hyatt’s Dream Hotels will assist in the delivery of some of the many entertainment and hospitality features.
In terms of residential, plans calls for 230 townhomes, 251 luxury highrise units and nearly 2,000 mid-rise and highrise apartments. Additional phases to the overall project are reportedly planned over the next decade.
Firefly Park is the latest of a series of 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 previously reported by the Daily Commercial News, The Mix will transform what has been 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 granted by the Frisco City Council, the Frisco Community
Development Corp. and the Frisco Economic Development Corporation.
Nearby, the 55-acre, $2 billion Fields West project is already underway, 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, totalling 2,544 acres located on the northern edge of Frisco.
Co-developed and owned by The Karahan Companies in partnership with Hunt Realty Investments, Chief Partners, and Cross Tie Capital, the Fields 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.”
Overall, nine residential villages and neighborhoods are planned, featuring around 3,500 single-family homes.
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 that will not only include rides but also restaurants and a 300-room hotel.
The development team hopes The Fields will be a magnet for corporate headquarter 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.”
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.
Included is a roof structure to provide shade for fans, cutting-edge audio/visual technology and a variety of other fan-first amenities. 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 major developments planned and underway would certainly point to that future.
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