Hall Group announced Oct. 28 that it will begin construction on a new $7 billion master-planned development that will transform Hall Park in Frisco.

The current construction phase is estimated at half a billion dollars and will encompass about 1 million square feet, according to a news release from Hall Group. Amenities slated to open in fall 2023 will include a new Class AAA office tower, a 154-key boutique hotel, a 19-story luxury residential tower, a collection of 60 executive suites and a 10,000-square-foot food hall, all surrounding a programmed community park, the release stated.

Craig Hall, founder and chairman of Hall Group, said much has changed since opening the first office building at Hall Park in 1998.

“The new master plan will showcase some of the most progressive wellness technologies and sustainability practices available today, along with thoughtful spaces for community engagement, including the park and future performing arts center,” Hall said in the release. “Frisco has been a great community for us to be a part of, and we are excited to give back and be a part of its bright future.”

The 162-acre office park at Gaylord Parkway and the Dallas North Tollway currently has 15 buildings. Future plans also include a performing arts center as part of a public-private partnership among Hall Group, the city of Frisco and Frisco ISD.

The entire project, with a projected total value of about $7 billion, is anticipated to span 20 years and will encompass about 9.5 million square feet of usable mixed-use space upon completion, the release said.

“Craig Hall is one of Frisco’s first visionaries,” Frisco Mayor Jeff Cheney said in the release. “He develops like few dare. In the case of Hall Park, he tore down two buildings to make way for a greater use, incorporating lifestyle elements as well as first-class office space and a future, special place for the performing arts in Frisco.

“His investment in Frisco has helped grow the corporate presence in our city and will continue to impact Frisco for decades,” Cheney stated.