Dive Brief:
- The city of Frisco, TX, has given its initial approval for a 17-story luxury residential tower to be built at the Dallas Cowboys' $1.5 billion Star in Frisco mixed-use development, according to The Dallas Morning News.
- The high-rise — the first one approved in Frisco — will feature 150 to 160 rental units, each approximately 1,200 square feet. Developers said the project will target empty-nesters and those doing business with the Cowboys organization.
- The project must still win final approval from the Frisco City Council. If it gets the green light, it will be the only residential element in the Star in Frisco project, which also includes the 12,000-seat Ford Center, an office building, an Omni Hotel, a sports medical center, retail space and dining.
Dive Insight:
Also in the preliminary stages is a 24-story "urban living" high-rise at the nearby $1.5 billion Frisco Station mixed-use development. Unlike the Star in Frisco project, Frisco Station already has a few thousand housing units planned.
Both Frisco Station and the Star at Frisco developments are part of the "$5 billion mile," a string of mixed-use projects along a main drag in Frisco.
Last month, NewcrestImage broke ground on two Marriott hotels in the Frisco Station development. When complete, they will provide a total of 300 hotel rooms. Late last year, developers also started construction on the first apartments there.
Also under construction is the first project to break ground in Frisco Station. The office tower, located across the street from the Star in Frisco complex, is seven stories tall and 228,000 square feet. Also in store for the development is The Hub, which will be 300,000 square feet of retail, dining and entertainment space, as well as a 40-acre medical complex.
Cowboys owner Jerry Jones has also staked out about 500 acres not far from Frisco in Prosper, TX. Construction on his $1 billion Gates of Prosper mixed-use development is underway with a 93-acre shopping center. The long-term, 20-year plan for the project includes residential, office and more retail space.
