Developers who've received approvals for a $1.5 billion Frisco mixed-use project are planning a Dallas North Tollway office project.
The 80-acre Railhead development is on the west side of the tollway near Frisco's Wakeland High School.
Newman Real Estate, Shula Netzer Real Estate and Koa Partners received approval this week from Frisco's City County to start the mixed-use project. Show Full Story
Dallas-based Koa Partners said it will build a 250,000-square-foot, 10- story office building.
"We are in preleasing right now on the office," said Koa Partners' Harry Lake. "5G Studio Collaborative (the Dallas architect) is doing our design."
Along with the commercial building, 1,200 multifamily units are planned in the initial phases of the Railhead, Lake said.
W3 Luxury Living of Colleyville will build the apartments.
"We are commencing construction soon and are in discussions with potential tenants seeking to be part of a truly walkable community anchored by a central greenspace nearly the size of Klyde Warren Park in Dallas," Lake said. "We are delivering an innovative office solution in the heart of one of the most talent-rich and business-friendly cities in our nation."
Two longtime Frisco landowners - the Newman and Wade families - are working with the developers and investors on the Railhead.
"This is truly a legacy project for me and my family," real estate broker Jim Newman, whose family has been in Frisco for seven generations, said in a statement. "Our family has been, continues to be, and will forever be committed to Frisco.
" We are excited about working with our office development partner, Koa Partners, and our urban living partner, W3, to deliver something truly special to the city we love."
Development plans for the property on the west side of the tollway show almost two dozen buildings constructed around a central park.
Office buildings, a hotel and retail would occupy most of the land closest to the tollway.
Architect CallisonRTKL did the land plan.
The Railhead is the first such mixed-use project planned north of Frisco's Main Street.
"Getting here took a while but we are excited about getting started," Lake said.
The Railhead site is just north of Frisco's much touted $5 billion mile -- a stretch of major developments including the Dallas Cowboys' Star complex, Frisco Station, the Gate and Wade Park.