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Southside Bank to Finance Infrastructure at Frisco Station

Author: 
Cooksey Communications

FOR IMMEDIATE RELEASE

SOUTHSIDE BANK TO FINANCE INFRASTRUCTURE AT FRISCO STATION

FRISCO, Texas (May 17, 2016) – Frisco Station, a 242-acre mixed-use development located within Frisco, Texas along the Dallas North Tollway, is partnering with Southside Bank to finance the development’s infrastructure. The bank will provide the Frisco Station Partnership, which is composed of Hillwood, Rudman Partnership and Van Trust Real Estate, with a three-year revolving line of credit for constructing road, water, sewer, and other utilities. Initial construction will begin in June and will include infrastructure to support office development along Warren Parkway, as well as extend to the core of Frisco Station to support planned urban living, retail, and hospitality projects.

Uniquely positioned in one of the most dynamic development corridors in North Texas, Frisco Station promotes the experiential convergence of smart, creative and healthy principles with a new approach to urban design. With more than five million square feet of office and corporate campuses, 2,400  urban living units, unique destination food and beverage concepts, hotel and conference facilities, and more than 250,000 square feet of retail and mixed uses, it will feature everything from physical amenities to high-tech, imaginative and collaborative experiences that stimulate inspiration and energy. The development will encourage activity and nurture thoughtful design through the latest health and wellness concepts, entertainment venues, specialty retail shops and restaurants, medical centers, and open spaces with programmed events and public engagements.

“Frisco Station is a marquee project in one of the fastest growing areas in the region,” said Tim Carter, North Texas regional president of Southside Bank. “We’ve had a great relationship with Hillwood over the years and are pleased to be part of such a prominent project that will change Frisco’s landscape. The presence of Toyota, Liberty Mutual and other major corporations within the Collin County portion of the North Texas region is spurring unprecedented growth in Frisco, and Southside Bank is proactively seeking opportunities to facilitate new projects that will further support the city’s economic expansion.”

“The financing by Southside Bank is a major step forward in our efforts to turn our vision for Frisco Station into reality,” said Mike Berry, president of Hillwood. “Through this partnership, we will lay the foundation for an entirely new master-planned concept that focuses on healthy, smart and creative design principles. Frisco Station will be much more than just a place to live, work and shop. We are establishing a unique community and business park with a full range of amenities for every stage of life, and for every lifestyle.”

Headquartered in Tyler, Texas, Southside Bank has $5.2 billion in assets and currently operates more than 60 banking facilities in East, North and Central Texas. The financial institution previously worked with Hillwood to finance the grocery-anchored Heritage Marketplace retail development and the Marriott Hotel, which are both located at Alliance Town Center in north Fort Worth.


About Frisco Station

Frisco Station is a 242-acre mixed-use development in Frisco, Texas created with a new approach to urban design based on the foundational principles of smart, creative and healthy experiences. The proposed development is located to the west of the Dallas North Tollway and to the north of Warren Parkway surrounding the new Dallas Cowboys Star development and world headquarters complex. Frisco Station will feature fully amenitized office, residential, retail, restaurant and medical uses. Frisco Station will be an innovative corporate, retail and medical destination in Frisco, featuring modern amenities, technological connectivity and flexible workspaces within a vibrant economic climate.

For more information about the members of the Frisco Station Partnership, please visit the hyperlinks below:

Rudman Partnership

Hillwood Properties

VanTrust Real Estate

 

About Southside Bancshares, Inc. and Southside Bank
Southside Bancshares, Inc., the holding company for Southside Bank, is headquartered in Tyler, Texas. With approximately $5.2 billion in assets, Southside is the ninth-largest bank headquartered in Texas, by deposits. Southside Bank operates 60 banking facilities in East, North and Central Texas. The bank also operates a network of over 70 local ATMs, and is affiliated with more than 55,000 ATMs worldwide.

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Michelle Hargis
817-798-5257
michelle@cookseypr.com

Jason Meyer
Cooksey Communications
972-580-0662 x 21
jason@cookseypr.com

Mercedes Bolen
Hillwood Properties
817-224-6002
mercedes.bolen@hillwood.com