A mixed-use development project in Frisco that spent several years held up in litigation is finally moving forward with the first phase of construction.
The Wade Park project, rebranded as The Mix in November, is a 112-acre mixed-use development project planned for the southwest corner of the Dallas North Tollway and Lebanon Road in Frisco.
The two to three-billion-dollar master-planned community is expected to feature a combined 5.5 million square feet of residential, retail, and office space, as well as two hotels, The Dallas Morning News reported.
Initial construction on the Wade Park development is projected to start in May and will consist of a grocery store and retail center, according to documents filed by New York-based JVP Management with the Texas Department of Licensing & Regulation.
The development’s first phase will consist of 28 acres and has an estimated budget of $138 million, according to past reporting by The Dallas Express.
Washington D.C.-based architectural firm CallisonRTKL designed the multi-million dollar project, which is anticipated to wrap up phase one by the summer of 2024.
Construction on the Wade Park project first began in 2014 but ran into several challenges before being shelved in mid-2017 after the then-owner, Atlanta-based developer Stan Thomas, foreclosed on the property.
More than five years after construction stopped, Frisco residents can now breathe a sigh of relief, knowing that the future of the site is no longer shrouded in uncertainty. When construction stopped in 2017, only a small number of unfinished retail buildings had been built.
Now that JVP Management, through its partnership with Wade Park lender Gamma Real Estate, has filed paperwork with the state to jumpstart construction, the redesigned master-planned community may finally get its day in the sun.
“Our vision for The Mix is to create a community that embraces the diversity of Frisco,” said JVP’s Tim Campbell, DMN reported. “At The Mix, you’ll enjoy and interact with a mosaic of thoughtful architecture and vibrant green open space. We want every view to be a beautiful one.”
Besides the traditional residential apartments, Wade Park will also benefit from townhomes and rental houses, which architects have included in the redesign. Given Frisco’s growing population and the demand for residential and mixed-use projects, Wade Park is sure to benefit the city when it is fully completed sometime in 2026.