Construction has begun on a new project multibillion-dollar development in North Texas, dubbed The Railhead. The 80-acre mixed-use project will be located in Frisco, north of Main Street, on the Dallas North Tollway. The project will be one of the largest in the area. Heady Investments and apartment builder JPI are working with Frisco officials to steer the $2.5 billion project.
The development will have apartments, hotels, restaurants, office space, and retail stores. There will be a 5-acre landscaped park in the center of the buildings. Water and landscaping features will be included to create an inviting natural space. The first item to be built will be a 450-unit apartment complex.
Railway stations from the 1920s era were the inspiration for both the name of the new development and its design. The Railhead will have five high-rise office buildings and hotels along the tollway on the east side of the complex. On the other hand, the apartments will be on the west side and face the park.
Senior Vice President Miller Sylvan said that JPI wanted to build on the site because of the location, which sits between the new PGA headquarters and resort and the Dallas Cowboys’ Star. Sylvan said the project would be the fourth development JPI has undertaken in Frisco.
In addition to the 450 apartments, the complex will have 17,000 square feet of retail space on the ground floor and another 13,000 square feet reserved throughout the building for amenities available for residents. A 2,000-square-foot rooftop deck will overlook the park.
The complex will also have over a million square feet of office space and a hotel. Eventually, the developers hope to build 1,280 apartments. According to developer Randy Heady of Heady Investments, infrastructure must be created before JPI can make the units.
Another Railhead partner is Jim Newman, whose family has owned land in the area since 1841. According to Newman, the St. Louis–San Francisco Railway came through town in 1902 and “changed everything.” In 1904, town residents named the city “Frisco City” in honor of the railway, later shortening it to Frisco.
Shula Netzer and Terri Green will also be investors in the project, while Simmons Bank will provide financing. Heady Investments has said that several other companies could be interested.
The Railhead is just the latest in several announced mixed-use real estate projects in Frisco. Others include the Fields development, encompassing 2,500 acres, Hall Park, Frisco Station, and The Star.