Frisco is looking to sell land near Dr Pepper Ballpark, which could eventually lead to thousands of square feet of office and entertainment space.
On Sept. 21, Frisco City Council will consider approving a more than $19 million land sale to Alterra Capital Management. Alterra would acquire 14.6 acres of land just south of Dr Pepper Ballpark, which is commonly known as Pennant Park, city documents said.
The deal would require Alterra to design and construct a 320,000-square-foot office building and a parking garage with a minimum of 1,200 spaces. The company would also have to build a “food/beverage/entertainment center” on 1.25 acres, which would include 23,000 square feet of climate-conditioned space and an additional 21,000 square feet of activity space.
The proposed contract only requires one office building and entertainment center. However, the city also anticipates Alterra to eventually add two additional high-rise office buildings totaling more than 500,000 square feet, supplementary dining and retail, and a business-class hotel, the documents read.
