$3B Mixed-Use Community Coming To Site Of Defunct Wade Park Project In Frisco
The first phase of a $3B mixed-use development is about to break ground in Frisco.
The Mix will encompass 2M SF of office, 3M SF of residential, two hotels, and 375K SF of retail, including a grocery store. The 112-acre property will be located at Dallas Parkway and Lebanon Road, according to a news release.
The development will center around a 9-acre park designed by OBJ, the firm responsible for Klyde Warren Park in Dallas. An event lawn, performance pavilion and playgrounds are among the park’s amenities, development head Tim Campbell said in a statement.
“Our vision for The Mix is to create a community that embraces the diversity of Frisco,” he said. “We want every view to be a beautiful one.”
Dallas-based Streetlights Residential is partnering with JVP Management, a New York-based investment firm, on the project. Phase 1, scheduled for completion in 2026, will include a 40K SF grocer, 60K SF of retail, some housing and a medical office building, Campbell told the Dallas Morning News.
The site was formerly slated for the $2B Wade Park development, but those plans were abandoned after lenders seized the property in 2019. A year later, Georgia-based owner Wade Park Land LLC declared Chapter 11 bankruptcy, per the DMN.
The defunct project left behind incomplete buildings and a huge hole in the ground, which JVP Management Partner Van Nguyen said could cost up to $85M to repair, according to a report by Community Impact Newspaper.