The City of Frisco approves Master Development Agreement for The Mix
The Frisco City Council approved a Master Development Agreement that will provide up to $113.4 million in funding for development of The Mix. This approval marks an important milestone for the development, paving the way for construction to move forward. The Mix will bring numerous benefits to Frisco, including a new vibrant, walkable neighborhood, as well as significant job creation and economic growth.
The Mix, a 112-acre mixed-use development in Frisco, located at the southeast corner of Lebanon Road and Dallas Parkway, is set to redefine what was formerly Wade Park. The $3 billion development includes plans for two-million square feet of new class-A office space; 375,000 square feet of retail space; two hotels; townhomes and urban living units.
The development will feature a large park and include more than 16 acres of open space throughout the development. The agreement provides $113.4 million in performance-based grants from the City of Frisco, the Frisco Economic Development Corporation (FEDC) and the Frisco Community Development Corporation (FCDC) to support Phase 1 infrastructure, which includes essential property remediation and construction of an underground parking garage.
Incentives would be paid to The Mix Partners, LLC only upon completion of the following:
114,000 square feet Class A medical office
40,000-square-foot, upscale grocery store
33,000 square feet of upscale retail
630 townhomes/urban living residential units
Parks, trails and open space
2,250-space underground parking garage
Enhanced screening of the property during construction
The $113.4 million agreement includes a $10 million reimbursement-based infrastructure grant, approved by the Frisco EDC board, ensuring an accelerated construction timeline of the upscale grocer and permanent occupancy before disbursement.
“I’ve often said the final story – of what was once called Wade Park – will be a positive one,” said Frisco Mayor Jeff Cheney. “Now rebranded as The Mix, tonight marks the next chapter in this development story. The Planning & Zoning Commission spent a lot of time working with the developer to come up with an even better and improved site plan providing more open space and amenities. Thoughtful negotiation related to performance criteria requires the developer to deliver the underground parking garage before any incentives are paid. I’m excited about this next chapter in the story about The Mix and look forward to breaking ground.”
“Frisco EDC is proud to play a key role in accelerating development of The Mix,” said Shanna Keaveny, Vice Chair, Frisco Economic Development Corporation. “With Frisco steadily absorbing office space, the new Class A offices and underground parking garage will significantly boost our ability to attract more corporate headquarters, technology firms and specialty medical companies."
“We’re excited about the progress at The Mix and the opportunity it presents for our community,” said Chad Brubaker, Vice Chair, Frisco Community Development Corporation. “These incentives will only be available if the development meets specific performance metrics and delivers the project within a defined timeline. This collaboration represents a strong step forward in enhancing Frisco’s growth and quality of life.”
“We are pleased to receive the city council’s approval and are excited to begin construction on this transformative project,” said Tim Campbell, Head of Development, The Mix. “The Mix will bring significant benefits to the city and local community, providing new opportunities for growth and enhancing the quality of life for residents. We have worked closely with city leaders to ensure that our plans align with their goals and vision for the future, and we are committed to making this project a success for everyone involved.”