Rezoning approved for $850M Texas mixed-use district
- The Frisco, Texas, City Council voted unanimously to approve a zoning request that paves the way for the design and construction of Spring Creek Frisco 45, a planned $850 million mixed-use, high-density project. Dallas developer MHC Capital will own the property and oversee the project, according to The Dallas Morning News. Design, engineering and construction firm Stantec is also a member of the development team.
- Plans for the 60-acre project include: four office towers, parks and open space; a full-service hotel with at least 350 rooms; per the city's request, 80,000 square feet of retail; and 1,000 apartments and townhouses. Dallas-based KDC has been tapped to help design and market the office space, while North Texas company Green Brick Partners will build almost 60 townhouses. The apartment buildings would max out at five stories, and project officials are in talks with three developers to build that component.
- Frisco officials denied a rezoning request in May for the project, but, since then, developers have been working with the officials to address their concerns. In addition to a hotel with a minimum of 350 rooms, project officials also agreed to cap office space at 1.4 million square feet. Locals have expressed opposition to the project on fears that the high-density residential element will add to traffic congestion in the area.
Frisco has gone from sleepy hunting outpost to a bustling, vibrant suburb of north of Dallas in a relatively short period of time, so it's no surprise that residents would push back against a project that could possibly create inconveniences for them.
With housing shortages around the country, however, and the desire on the part of a growing number of people to live in urban-style developments, high-density is becoming more of a common feature of many developments, controversial or not. These projects often become mini-cities with built-in mass transit, shopping, entertainment and, in some cases, schools.
In Los Angeles last month, city officials approved the $1 billion Crossroads Hollywood mixed-use development amid similar concerns around noise, increased traffic and stress on existing public services, but also because rent-controlled apartments will be eliminated. The project, which still must secure additional approvals before it can move forward, would feature nine buildings with more than 300 hotel rooms, 950 apartments, 190,000 square feet of commercial space and more than 2,000 underground parking spaces.
- The Dallas Morning News Proposed $850 million project in Frisco to have 1,000 apartments, a hotel and office towers
Follow Kim Slowey on Twitter