City Council on March 15 approved an agreement that calls for more than $3.6 million in grants for 40,000 square feet of new development as part of the Ritchey Gin project at 6601 Frisco Square Blvd. Nack Development is set to begin construction in The Rail District this year on the home of Frisco Brewing Company, which is expected to open in 2023.
A presentation given by Deputy City Manager Ron Patterson shared plans for a three-story, 22,665-square-foot office building and a nearly 16,000-square-foot building for the brewery and a complimentary restaurant. The two buildings will be separated by an outdoor open space of about 18,550 square feet, the presentation stated.
In addition, a roughly $7 million, three-story parking garage containing at least 208 spaces will be constructed as part of the agreement. A total of 150 parking spaces could be reserved for the brewery from 8 a.m. to 5 p.m. Monday through Friday. Parking will be available to the public at all other times, according to the presentation.
Patterson said the garage will help alleviate tight parking options in The Rail District. Work to add on-street parking to Elm Street is set to begin this spring, city officials said in January.
“Obviously, one of the biggest issues we have downtown is parking,” Patterson said.
The city and the Frisco Community Development Corp. are expected to fund the lesser of either 50% of the actual parking garage cost or $3.5 million, the presentation stated. The Frisco Economic Development Corp. is also expected to provide an infrastructure grant amounting to $123,200.
The city will also waive 50% of road, water and sewer fees, according to Patterson.
Patterson said the FCDC and FEDC are scheduled to consider the grants for approval later in the week.
The structure of the public-private partnership is similar to previous agreements made by the city, such as for Nack Development’s Patios At The Rail project, according to city officials.
“It’s good to get this one to the finish line,” said Mayor Jeff Cheney. “We look forward to the groundbreaking.”