In 2021, one of Frisco’s first entrepreneurs has officially begun work on $7 billion worth of redevelopment at the park.
Hall Group announced Oct. 28 that it will begin construction on the first phase of the billion-dollar redevelopment plan at Hall Park. Phase 1 is estimated at $500 million and will encompass about 1 million square feet. The company held a groundbreaking ceremony to commemorate the project.
By fall 2023, the 162-acre office park at Gaylord Parkway and the Dallas North Tollway will feature 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 surrounding a programmed community park, according to Hall Group. The entirety of the redevelopment is expected to span 20 years.
Hall told those in attendance to hold congratulations until all work is complete and that there are a lot of pieces to put the puzzle together.
Office parks are a thing of the past, he said. For the new generation of millennial workers, the Hall Group founder said his team has designed a “post-COVID-19” environment where workers can go outside, enjoy a host of amenities and look forward to coming to work.
“They want it all,” Hall said. “They want to be able to go in an environment that has a great park. They want to be able to eat healthy food. They want to be able to exercise in a great environment. They want all those choices.”
Deputy City Manager Ron Patterson said the suite of projects is the “first giant step in the next phase of the history and development of Frisco.”
“This project is the absolute quintessential example of redevelopment,” Patterson said. “To be willing to take the risk of going in and taking down perfectly good buildings, to be able to go vertical and create more density, is amazing.”
Frisco Mayor Jeff Cheney said what Hall has done in Frisco is the equivalent of "driving 20 miles north," parking the car and deciding to immediately build an office tower. Hall’s ambition to tear down buildings for better fixtures, he said, is an example of the entrepreneur willing things into reality.
“What is about to happen here, I believe, is unprecedented in the DFW market,” Cheney said. “It's going to really help our economic development team with their mission of attracting world-class companies here that will come and want to be part of what's changing here.”
