Frisco City Council members approved a nearly $24 million contract with McCarthy Building Companies, the company hired in 2024 to design and build the incoming parking garage, during a Jan. 7 meeting.
The new contract officially sets the project's groundbreaking for Feb. 3, according to meeting documents.
City staff have been coordinating with stakeholders in The Rail District to inform them of the upcoming construction, which will include demolishing the existing surface parking lot currently located on Elm Street between 3rd Street and 4th Street behind the School of Rock building.
Construction crews are expected to “substantially complete” the parking garage by May 18, 2026, according to the meeting documents. The garage will offer 451 parking spaces across five stories with retail space available on a portion of the ground floor.
The details
The contract created a $23.86 million lump sum, which includes funds for some previous design services such as relocating an elevator and minor scope reductions.
Including those and other design work already completed by McCarthy, the total value of the contract is $26.01 million, according to meeting documents. Funding for the parking garage contract comes from city bonds and a Frisco Economic Development Corporation infrastructure grant.
The background
The parking garage is one piece of the city’s redevelopment efforts taking place in The Rail District as officials hope to unveil the downtown area as a revitalized and pedestrian-friendly hub in 2026.
Other pieces of downtown redevelopment construction include widening sidewalks along Main Street, which began in June and involved removing the road's on-street parking spaces, and building Fourth Street Plaza, which broke ground in September.
Rail District-related construction updates and information on where to park in the area can be found on the city's dedicated downtown improvements website.
