Waterfront Town Square 380/Tollway in Frico
Chicago REIT to develop Frisco site
Dallas Business Journal - April 19, 2006
General Growth Properties and the city of Frisco are teaming up to develop a 194-acre site in Frisco that will contain shopping, homes, a hotel and office space.
Under the concept plan, approved by the city on Tuesday night, General Growth, a Chicago-based real estate investment trust, would develop an open-air commercial and residential center around a waterfront town square park.
The center, at the southwest corner of the Dallas North Tollway and U.S. 380, would have anchor stores, entertainment, restaurants and a main street lined with retail stores on the first floor and residences overhead.
"We envision much more than a place to shop," said Butch Papon, first vice president, development, for General Growth. "This will be a self-contained community offering an enviable quality of life for those who live and work there, while also being a great place for visitors from afar to spend a day dining on the waterfront, people-watching, shopping and finding entertainment. It will offer what some call 'a sense of place.' "
The city agreed to designate the parcel a Tax Increment Reinvestment Zone.
"We are committed to this type of development because it helps reduce commuting, pollution and congestion by placing people in easy travel distance of their home, work and shopping," said Frisco Mayor Mike Simpson.
Dallas Business Journal - April 19, 2006
General Growth Properties and the city of Frisco are teaming up to develop a 194-acre site in Frisco that will contain shopping, homes, a hotel and office space.
Under the concept plan, approved by the city on Tuesday night, General Growth, a Chicago-based real estate investment trust, would develop an open-air commercial and residential center around a waterfront town square park.
The center, at the southwest corner of the Dallas North Tollway and U.S. 380, would have anchor stores, entertainment, restaurants and a main street lined with retail stores on the first floor and residences overhead.
"We envision much more than a place to shop," said Butch Papon, first vice president, development, for General Growth. "This will be a self-contained community offering an enviable quality of life for those who live and work there, while also being a great place for visitors from afar to spend a day dining on the waterfront, people-watching, shopping and finding entertainment. It will offer what some call 'a sense of place.' "
The city agreed to designate the parcel a Tax Increment Reinvestment Zone.
"We are committed to this type of development because it helps reduce commuting, pollution and congestion by placing people in easy travel distance of their home, work and shopping," said Frisco Mayor Mike Simpson.
posted by Beth at 11:32 AM
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