Burgeoning 'Burbs
Another gargantuan mixed-use development is on track for Frisco
Frisco just keeps on growing. In addition to the massive new world headquarters and training facility the Dallas Cowboys are building there, and the fancy Omni hotel that goes with it, another major development has just been announced.
Workers will break ground at the end of the year on an unnamed master-planned community in Frisco, north of the Sam Rayburn Tollway and about five miles east of the Dallas North Tollway. Approximately 1,800 single-family homes and up to 1,400 apartment units, along with retail and office space, will make up the 729-acre community, which is tentatively set to have its grand opening in 2018.
American Newland Communities, LP (Newland) and its joint venture partner North America Sekisui House, LLC (NASH) are spearheading the project. The two companies already own one Frisco development called Hollyhock, which is slated to open this summer. A second community, Canyon Falls in Flower Mound, was acquired in 2015 by NASH.
“We are excited to announce the acquisition of this prime parcel of land in Frisco and are dedicated to creating a thoughtfully designed community that provides a positive lifestyle for our residents and the city of Frisco,” says Brian Cramer, senior vice president of Newland Communities, in a release.
Depleted housing inventory has recently made it difficult for Dallas homebuyers, especially first-timers, to purchase property, and it's caused rents to skyrocket. With several companies relocating to Frisco and Dallas' northern suburbs, more housing options are definitely needed.
Says Cramer, “Our goal is to help satisfy the exceptional market demand for homes that is being spurred by companies relocating or expanding in the region, and the timing of this new community will be able to meet that market demand.”
Nearby Wade Park is another large development that hopes to bump up retail and residential offerings in Frisco. It's scheduled to open in 2017.
