FRISCO, Texas – November 26, 2012 – The City of Frisco has approved a public/private partnership agreement with Forest City Texas, a subsidiary of Cleveland-based Forest City Enterprises, for the long-term development of a 320-acre, mixed-use project known as Frisco North. Frisco City Council members approved the agreement during a regularly scheduled council meeting November 26.
Located at the southwest corner of the Dallas North Tollway and U.S. Highway 380, the project is expected to include retail, residential, office, entertainment and hospitality components, as well as open space, public parks, and other municipal uses yet to be determined. Forest City is partnering on the development with Ernest Mahard, Jr., the land owner. View renderings of Frisco North.
“This is another milestone in our long-term partnership with Forest City Texas, which promises to produce a vibrant, active and successful mixed use development,” said Mayor Maher Maso. “Not only will Frisco North benefit residents and visitors alike, it will enhance our financial sustainability through job creation and a growing tax base. We’re excited to partner with Forest City Texas and welcome Frisco North to our community.”
"It has been a great experience working with the City of Frisco on this exciting project," said Brian Ratner, president of Forest City Texas. "Public/private partnerships are what drive large-scale, transformational projects like Frisco North,. We believe this project will bring together the city's vision with Forest City's expertise in mixed-use 'place-making' to deliver significant social and economic value to the community and its stakeholders.”
Frisco North is slated to start construction in late 2013 or early 2014, with the first tenants coming on-line in early 2015.
According to U.S. Census Bureau statistics, Frisco was the fastest-growing city in the country over the decade of 2000 to 2009, and has been recognized by Money magazine as one of the top 100 places to live in the United States.