Construction for the Tacoma Meadows, a high-end historic townhome development, is expected to begin in November.
The 31.1-acre property at the southeast corner of Parkwood Boulevard and John Hickman Parkway was originally zoned for two office buildings and outdoor commercial amusement several years ago, according to city officials.
In June, Frisco City Council approved rezoning of the property to make way for the planned development.
Mardy Brown, CEO of Texas Development Services, said the development would include 306 three-story units, a 3.5-acre private park and an amenities center.
Brown said he expects the first few units to be finished and on sale sometime in the spring of next year.