Frisco will be the home for a new development called Field West which has an estimated budget of $2 billion according to a Dallas Morning News article from April 22 which reports,
“Plans for the new $2 billion Fields West mixed-use development will turn up the heat on Frisco’s building boom.
The 180-acre project of Karahan Cos and Hunt Realty will include 325,000 square feet of retail, restaurant and entertainment space, 2,800 apartments, more than 4 million square feet of offices and three hotels.
The Fields West project just adds to the growing number of big real estate developments along the tollway in Frisco.”
It all started with Karahan, who is responsible for the development of Plano Legacy West, looking at Frisco and developing another retail hub for Dallas according to a Local Profile article from April 22. They say,
“With Legacy West, Karahan turned the area into one of Collin County’s hottest shopping and dining spots. The district also includes Toyota’s North American headquarters and offices for companies like JPMorgan Chase and Boeing Global Services, among others. He aims to surpass that success just eight miles away at Fields West.
“The interest we are getting from retailers before we even announced the project is mind-boggling,” Karahan told The Dallas Morning News (via Dallas Business Journal and Fields Frisco). “They see the demographics and growth in the area and want to be there. This becomes the next big retail hub,” he said. “The people from Celina, Prosper, Gunter and Sherman are not going to go all the way south on the tollway to Plano.”
The developers have already signed a deal with Marriott International Inc. for a Ritz-Carton Hotel. “The Ritz-Carlton will be the first five-star hotel in the northern section of DFW.” Currently, there is only one Ritz-Carton Hotel—located on McKinney Avenue in Dallas—in the entire state of Texas.
“There is an enormous amount of growth taking place,” Karahan said. “We’re in the right place for this development.”
The developers are looking at the last quarter of 2024 for the official start of the first phase of the entire billion project.