Photo by Renee Hansen
Photo by Source: City of FriscoFirst phase projected to open spring 2015
The Dallas North Tollway has drawn yet another major retail and multi-use development, northeast of the Dallas Cowboys development project that is beginning to take shape.
Newman Real Estate has announced plans for a "mega development" on 110 acres on the southeast corner of Lebanon Road and the DNT.
The project, which is being called Wade Park, will include high-end retail shopping, fine dining, luxury hotels, commercial office space, entertainment and urban living.
The first phase is expected to be complete in spring 2015.
Lauren Newman Burge with Newman Real Estate said it will be similar to the popular Shops at Legacy mixed-use development in Plano.
"It will be larger than the Shops at Legacy, but with more big-box retail stores and more restaurants," she said. "It's going to be something that's never been done in Frisco before."
Burge said there are commitments from high-end retailers, restaurants, businesses needing office space and a grocery store. The names of those committed will be announced mid-February.
"Wade Park will be the place to go when you have a special occasion to celebrate or to spend an afternoon discovering the latest trends from the runway, at stores that you currently have to drive 20 miles to NorthPark Center to find," said Jim Newman of Newman Real Estate.
Working with Newman Real Estate, the Wade family sold the property to Dan Thomas, an urban retail developer based in Atlanta, Ga.
Wade family history
The Wade family, one of the original Frisco families, has owned property in the city for more than 100 years and worked with the Newman family during that time, first farming, then selling and developing land.
John Kirby Wade Sr., son of John Hickman Wade, originally purchased the Wade Park land.
Burge said the Wades were actively involved in selling the property.
Two tollway developments
The Wade Park deal has been in the works for more than a year—before the 96-acre Cowboys development on the northwest corner of Warren Parkway and the DNT was announced, Burge said.
"We were already deep into this when we found out about the Cowboys," Burge said. "We feel like they will complement each other and with the draw of the stadium, the new development will flow right into it. We're excited."
Southwest of the Wade Park development, the Cowboys complex is another step closer to construction.
The city of Frisco Planning & Zoning Commission on Jan. 28 approved the preliminary site plan and conveyance plan for the facility. While routine for any development in the city, the approval is one of the first steps forward with the project since it was announced in September.
It is the start of the formal process to lay out the roadways and where the multi-use events center and Cowboys headquarters will be oriented on the property.
"We are excited to begin work on yet another state-of-the-art facility that can host numerous special events and regular programming designed to promote the community and tourism," Mayor Maher Maso said.
The headquarters and multi-use event facility, which will be used as a practice facility by the Cowboys, as well as by the city of Frisco and Frisco ISD for various events, are scheduled to be complete mid- to late 2016.
The project is being funded jointly by the city of Frisco ($30 million), Frisco Community Development Corp. ($25 million), Frisco Economic Development Corp. ($30 million) and Frisco ISD ($30 million).
