This render shows The Link, a planned nearly 240-acre mixed-use development in Frisco. (Courtesy of the City of Frisco)
Frisco City Council voted unanimously on May 18 to approve a rezoning request that paves the way for a $ 1 billion mixed-use development east of the PGA Frisco project.
The link is estimated to generate $ 7 million per year in property tax revenue and $ 3 million per year in tax revenue when fully constructed. The 2 to 2.5 million square feet of office space would attract between 8,000 and 10,000 jobs, according to project estimates. And countless more jobs would be created at the site for the catering, retail, hospitality, wellness, medical and entertainment uses provided there.
Council member Will Sowell said this project ticks many boxes for Frisco.
“Who wouldn’t want this development in their city?” He asked.
Mayor Jeff Cheney said the developers took an oddly shaped piece of land with a floodplain in the middle and created what should be a world-class project.
“We are sitting here today [talking] on the potential construction of a $ 1 billion development due to the PGA halo effect, ”Cheney said.
The May 18 vote was the third time the nearly 240-acre project has been presented to city council. In two previous meetings, the project was tabled after some council members expressed concerns about the density and timing of the trail’s construction.
The approved plan has 150 residential units less than the initial request. The plan calls for up to 2,206 multi-family units, of which at least 500 are to be constructed of concrete and steel. The revisions also allow up to 500 single family homes and cottages.
Additionally, the developers agreed to construct the 3.5 mile hiking and biking trail during the first phase of construction. The trail must be completed before the first certificate of occupancy is issued.
Project representative Clay Roby called the trail a “development heartbeat” that will link The Link to the intricate-style development that will be the new home of the PGA.
“We created… a large pedestrian promenade that runs through the center of the development, ensuring this is a mixed-use property that is very walkable,” said Roby, Managing Director of Stillwater Capital.
Board member Shona Huffman said a lot of work has gone into The Link’s final plans.
“We cannot let our guard down. We still have to push for better. And that’s what we did here tonight, ”she said after the meeting. “I really appreciate that the developer has worked very hard with us to improve us.”
Cheney said the council took a long-term view of the community in approving a project that will affect generations to come.
“This is a project we should celebrate,” he said. “It should be an exciting day in Frisco’s history.”