The agreement establishes a framework for funding improvements to Frisco Station’s open space areas, which run through the heart of the planned development. Improvements to the open space tracts include enhanced plantings and trees, widening trails and adding fitness stations, according to a report from city staff.
Frisco Station is a 242-acre, mixed-use development located next to The Star in west Frisco. Once fully built out, it will feature a total of 2,400 residential units and a 55-acre corporate campus.
The development includes six open space tracts, two of which are completed. Once fully developed, Frisco Station will feature a 30-acre, privately-maintained park with multiple open spaces, according to its website.
Minimum improvements to meet Frisco’s open space standards will be paid for by the developers. The city can offer reimbursement for additional improvements to the open space tracts through the use of park fees that were previously set aside based on a 2018 agreement between Frisco Station’s developers and the city. Park fees generated from the property and designated for reinvestment are capped at about $5.7 million, according to the staff report.
The agreement also dictates the developers provide a total of 60 public parking spaces at Frisco Station as the park will be made accessible to the public.