The Frisco Economic Development Corp. unveiled plans Thursday to develop a new business park, which will help meet the incoming demand for office space within the North Texas city.
The economic development arm's president Jim Gandy has told the Dallas Business Journal that Frisco doesn't have enough high-quality office space on the ground to meet demand from companies looking at options in the city.
A Number of construction projects are underway in Frisco, the city's $5 Billion Mile.
"Many businesses look to lease existing multi-story, class-A office space in Frisco; but the FEDC frequently receives inquiries from prospects who want assistance finding a site where they can own and occupy their own building," said Gandy, in a statement on Thursday. Show Full Story
The 216-acre business park, called Frisco Park 25, at the northwest corner of Preston Road and Rockhill Parkway (less than a half-mile away from the Dallas North Tollway) is zoned for industrial and office real estate.
The name reflects the economic development agency's 25th year in existence. The new business park will join a number of other new construction projects in Frisco, which include the expansion of Hall Park, the development of Frisco Station and the ongoing work at Wade Park.
At build out, Frisco EDC expects to have 2.2 million square feet of real estate valued at more than $300 million. Gandy said the economic development agency plans to sell portions of the park off to companies wanting to purchase and own their own real estate.
"This allows us to better control the design and development happening in the park," he added.
Plans for the park will include a greenbelt and a detention pond. The park will be marketed to corporate and regional headquarters, among other manufacturing, distribution and showroom operations.
Hardy McCullah/MLM Architects Inc. provided master planning services for the business park. Kimley-Horn & Associates is the project civil engineer.
Construction on the roads and utilities into the project are expected to start soon, with the initial phase of buildings getting underway in 2018.
Candace covers commercial and residential real estate and sports business.