New ‘$5 Billion Mile’ to Transform Frisco

In the past decade, Frisco’s population has grown ten-fold to more than 145,000 residents. This rapid growth caught the attention of major investors which led to acres of land being bought by the thousands. Dallas Cowboys owner Jerry Jones was one such investor who in the early 1990s was one of the first developers of large single-family communities in the area. Soon, Frisco began to emerge as a contender in North Texas for residents, as a result, the city’s infrastructure grew.

Jones’ decision to build the Dallas Cowboys’ headquarters and practice facility along the Dallas North Tollway, between Warren Parkway and Lebanon Road in Frisco, was the big push for the major development. This one-mile stretch of road has been dubbed the “$5 Billion Mile.” The area covers about 549 acres and with roughly $5.4 billion in investments, is expected to transform Frisco into high-end developments and a major North Dallas business hub.

What’s Happening

There are four major developments that make up the $5 Billion Mile: The Star, Frisco Station, The Gate and Wade Park.

The Star is the facility owned by Jerry Jones that sparked so much attention to the area. Not only will it serve as the Cowboy’s headquarters and practice facility, it will also be home to a mixed-use event center. The development will have roughly 66-acres for retail space and the event center will occupy 20 acres. The remaining 5 acres will be the site of the Cowboys headquarters. Included in the retail space will be two hotels, to be build by Omni Hotels & Resorts, with a total of 480 rooms.

Frisco Station, owned by Rudman Partnership, will occupy 242 acres, adjacent to the Dallas Cowboys project and has been described as a mixed-use project that will include office, retail, restaurant and residential spaces.

Wade Park is the third major development of the $5 Billion Mile. The 175 acres, developed by Thomas Land Development, will be another mixed-used space similar to Frisco Station but will also include Whole foods, iPic Theatre and Pinstripes Bowling. Hotel ZaZa has already signed on to open its second Dallas location in Wade Park.

Dubai-based Invest Group Overseas has proposed a $700 million dollar, 41-acre luxury mixed-use project, known as The Gate. More than 2.3 million square feet of buildings, including a boutique hotel, high-rise condominiums, retail and dining, and Class A office space.

What’s Next?

The city of Frisco is already growing at a rapid rate and will continue to grow as the $5 Billion Mile draws more businesses and residents to the area. We are excited to see what changes are in store as multifamily construction gears up to accommodate the influx of renters. All of these developments combined will showcase Frisco as a major business and lifestyle hub comparable to Dallas proper. It’s only a matter of time before the towns north of Frisco, such as Little Elm and Prosper, begin to experience the halo effect with investor dollars pouring in.

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