First look: Frisco’s 2,500-acre Fields development will have a new city center and thousands of homes | Real Estate | Dallas News
Frisco officials have gotten a first look at plans for the city’s biggest pending development, the more than 2,500-acre Fields development on the Dallas North Tollway.
The sprawling property formerly known as Headquarters Ranch was sold last year to a partnership that includes Hunt Realty, Karahan Cos., Republic Property Group, Chief Partners LP and CrossTie Capital Ltd.
After months of planning, the developers showed Frisco’s city council and its planning and zoning commission conceptual plans for the project, which is expected to cost as much as $12.7 billion.
The property stretches from Preston Road across the tollway and all the way north to U.S. Highway 380.
The massive development will have more than 10,000 homes and up to 18 million square feet of commercial space.
A 480-acre section of the project has already been sold for the PGA of America’s new headquarters, two golf courses and an Omni resort hotel.
“We have more than 2,000 acres left to develop,” said Fehmi Karahan, developer of Plano’s $3 billion Legacy West property and a partner in the new Frisco project. “This land is so big — two times the size of Love Field airport and three times of Central Park in New York.
“You have to look at this development over 15 to 20 years.”
Frisco mayor Jeff Cheney sounded upbeat about what he’s seen of the developers’ plans.
“There is still a great deal of work to be done, which will include hearing public comments, but at this point in the process, we’re very excited and equally encouraged about the Fields team’s willingness to work with us to achieve the appropriate mix of uses and product types while being flexible, yet dedicated to delivering creative designs that maintain the quality Frisco is used to,” Cheney said in an email. “The collective, overall vision takes advantage of the topography, open space and magnificent views to leverage the asset of the PGA of America.
“We were very pleased to see such a thoughtful, aspirational ‘first look’ at what Frisco’s northern corridor will become.”
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