The 242-acre Frisco development will break ground in
April 2024.
FRISCO,
Texas, April 25, 2024 /PRNewswire/ -- Wilks
Development and Frisco Economic Development Corporation
(Frisco EDC) signed a development agreement that launches Phase One
of construction and development for Firefly Park. The project is a
242-acre mixed-use, master-planned development including 159 acres
owned by Wilks Development and 59 acres owned by Frisco EDC.
Wilks Development and Frisco EDC Announce
Partnership for Firefly Park
Firefly Park is located at the intersection of US 380 and Dallas
North Tollway along PGA Parkway, one of the most prominent gateways
to the neighboring PGA of America Headquarters and Omni PGA Frisco
Resort. The development will ultimately feature 3 million square
feet of Class A office space, 400,000 square feet of upscale
retail, dining, and entertainment, along with 1,200 hotel rooms,
230 townhomes, 1,970 mid-rise and high-rise residential units, plus
many other world-class amenities. The heart of the development will
be a 45-acre signature park and open space featuring a chain of
lakes, an illuminated and immersive outdoor art walk, miles of hike
and bike trails, fountain views, and family-friendly playgrounds.
The development expects to attract tourists and residents with an
aesthetic wedding chapel, event lawn, and amphitheater that will be
fully programmed and activated throughout the year. Together these
amenities will create a highly attractive and functional lifestyle
and recreation destination for visitors, tenants, and residents in
Frisco.
The Frisco EDC and Frisco North Development LLC, a subsidiary of
Wilks Development, will collaborate to construct the initial phase
of public infrastructure, including streets and roads, medians,
driveways, turn lanes, fire lanes, water lines, wastewater mains,
drainage, electric utilities, gas utilities, and telecom/fiber
networks. Upon completion, Mahard Parkway will be built out to a
divided four-lane boulevard that connects PGA Parkway to US 380. In
addition, a new bridge for pedestrians, cyclists, and vehicles will
be constructed across a lake and open space along Shearwater
Boulevard, creating stunning views for users. The first phase of
the development agreement requires the construction of the Dream
Hotel, 650,000 square feet of Class A office, upscale dining and
shopping, and the 45-acre park.
"Firefly Park is part of the 'PGA halo effect'
accelerating development in north Frisco," said Frisco EDC President
Jason Ford. "The infrastructure
partnership creates ready-to-build sites to help attract major
headquarters to Frisco. There is a
high demand for more walkable, mixed-use environments with a blend
of premier corporate and lifestyle facilities – Firefly Park will
offer exactly that. The immersive art walkway will make it unique
from every other mixed-use development in North Texas."
"When Wilks Development purchased this land back in 2015,
its plans were modest," said Mayor Jeff
Cheney, City of Frisco.
"Wilks upped its game when the PGA of America announced it was
coming to Frisco. It's exciting to
see the vision evolve into a world-class development. Firefly Park
will be one of the premier destinations in North Texas."
"It's no secret why Frisco has been one of the fastest-growing
cities in the U.S.," said President Kyle
Wilks, Wilks Development. "It embodies everything we want in
a community: one of the lowest tax rates in the region, leadership
that's responsive to the businesses and residents, and an overall
culture of success. We expect Firefly Park to continue the success
and further stimulate the growth that began in Frisco several decades ago. We appreciate the
Frisco EDC's partnership and commitment to bringing this project to
life."
For more information about Firefly Park, please visit
fireflypark.com or @fireflypark on Instagram and
Facebook.
About Wilks Development
Wilks Development is an
intentional and innovative real estate development and investment
company. Since its founding in 2012, brothers Kyle and Josh Wilks, along with their cousin
Jess Green, have built a diverse
portfolio of real estate projects, including sturdy stone
storefronts, Class-A commercial offices, thriving business parks,
multi-family communities, and vibrant, walkable neighborhoods. For
more information, please visit wilksdevelopment.com or their social
media channels: LinkedIn: @wilksdevelopment, Facebook:
@wilksdevelopment, Instagram: @wilksdevelopment
About the Frisco Economic Development Corporation
The Frisco Economic Development Corporation operates as a
Texas non-profit corporation and
is governed by a seven-member board of directors appointed by the
Frisco, Texas City Council. Our
mission is to create new jobs and improve the economic
opportunities and quality of life for all Frisco residents. The Frisco EDC is one of the
leading public economic development agencies in the State of Texas, closing $629 million in new development, and generating
more than 7,200 Frisco-based jobs
from multiple Fortune and tech headquarters relocations since early
2022. For more information, visit FriscoEDC.com.
Contact: Nicole Ellis, Wilks
Development
Telephone: 817-720-0821 or 209-327-6343
Email: nicole.ellis@wilksdevelopment.com
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SOURCE Wilks Development