UPDATE: Frisco City Council members delayed this matter until August because they disagree over some aspects of the rezoning, including building heights, open space and timing, the Dallas Morning News reported.
JVP Management is banking on housing density for its resuscitation of Frisco’s ill-fated Wade Park development, once touted as one of North Texas’ largest and most promising mixed-use projects.
The $2 billion venture had been at a standstill since 2017 due to loan defaults by previous developers. JVP acquired the property in 2019 and is seeking a zoning change for a development it has branded as the Mix, the Dallas Morning News reported. The New York-based firm is seeking to cover about 46 percent of the development with housing.
The zoning change seeks nearly 3,300 residential units, including a first phase of 650 “urban living units,” the outlet reported. JVP also plans to complete an unfinished retail development on Lebanon Road at the Dallas North Tollway. Townhomes would be built along Parkwood Boulevard.
Despite the increased focus on residential spaces, the new zoning plan retains 2.4 million square feet of office and retail space, with towers lining the tollway. A crucial centerpiece of the reimagined development is the creation of a “town center district,” envisioned to encompass a mix of retail and park areas.
Architects CallisonRTKL and Torti Gallas + Partners designed the new development plan, and the Office of James Burnett is the landscape architect.
Initially breaking ground in 2014, the development’s first phase was expected to open in 2016. However, due to funding challenges, Wade Park faced setbacks and ultimately came to a halt.
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