Update: Wade Park developer faces more than $14 million in liens from unpaid construction services

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Thomas Land & Development now faces more than $14 million in liens after Balfour Beatty Construction and SES Group filed liens late last week. So far, 14 contractors and suppliers have filed liens against the developer of Wade Park this year.

According to the Collin County clerk’s office, Thomas Land & Development has paid one lien worth $2,900 to Alpha Testing. No records have been filed indicating that the other liens have been paid.

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The developer for the 175-acre Wade Park project owes contractors and suppliers more than $7 million for work done on the project, according to records from the Collin County Clerk’s office.

Since March, 12 contractors and suppliers have filed liens against Georgia-based Thomas Land & Development for unpaid services and materials. The latest lien was filed Nov. 15.

A representative from Thomas Land & Development did not immediately return calls from Community Impact Newspaper.

The businesses seeking payment from Thomas Land & Development include Vilhauer Enterprises, Capform Inc. and Redi-Mix Concrete, whose equipment can be seen on the Wade Park site.

Construction has slowed to a standstill on the development, which has a completion deadline of December 2018 to receive a sales tax grant from the city worth up to $47 million in total.

Meanwhile, several tenants, including Hotel ZaZa, have pulled out of the project while others have pushed back their opening dates. Whole Foods Market, which was first projected to open in 2015, has pushed its opening date to 2019, Stan Thomas, CEO of Thomas Land & Development, said in a previous story.

In October, Community Impact Newspaper reported that Thomas Land & Development was working to secure a second loan after the company obtained a $82.75 million loan in January to continue construction.

At least one other business, 18|8 Fine Men’s Salons, has announced its commitment to the development since October.

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COMMENT
  1. The developer should be ashamed for it’s continuous slight of hand on this project. From day 1 they have tried to build a house of cards with other peoples money (first the insurance companies foreclosure funds, etc.). This will be another downtown Frisco debacle where what “could have been” never came to be (at least with the original dev.). Downtown Frisco could’ve seen explosive sales had it beaten Shops at Legacy to the punch. But, as is the case here, the wrong developer was allowed to make huge promises and ultimately failed to produce results.

    • The city should be ashamed. Amateur hour as usual. No financial due diligence, do not believe in timelines (quote from the city “we believe timelines on projects do not allow for when things go wrong”), and continue to give the project incentives. What a mess.

  2. How about the city steps in, sells the project for a sweet deal to Jerry Jones, and watch that thing flourish in 18 months.

  3. ” . . . obtained a $82.75 million loan in January to continue constriction.”

    Funny. Yet, “constriction” somehow seems appropriate.

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Lindsey Juarez
Lindsey has been involved in newspapers in some form since high school. She graduated magna cum laude from the University of Texas at Arlington in 2014 with a degree in Journalism. While attending UTA, she worked for The Shorthorn, the university's award-winning student newspaper. She was hired as Community Impact Newspaper's first Frisco reporter in 2014. Less than a year later, she took over as the editor of the Frisco edition. Since then, she has covered a variety of topics and issues important to the community, including the city's affordable housing shortage, the state's controversial A-F school accountability system and the city's "Bury the Lines" efforts.
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