JVP Greenlighted to Start $3B Megadevelopment the Mix in Frisco

JVP Management got the green light to build The Mix, one of several megadevelopments on the way in Frisco.

Frisco’s City Council gave final approval to the $3 billion, 112-acre project earlier this week, the Dallas Morning News reported. The ambitious redevelopment of Wade Park calls for roughly 2 million square feet of office, 375,000 square feet of retail, two hotels, for-sale townhomes and more than 3,000 multifamily units.

The first phase of the project, located at Dallas Parkway and Lebanon Road, will span 23 acres and be completed over the next three years. It will include 100,000 square feet of retail space, a 120,000-square-foot medical building, 653 apartments and a portion of the 9-acre central park, around which the development will revolve.

The city’s approval brings a sigh of relief to local residents, as the development site has been one of Frisco’s biggest eyesores for years. Construction of the Wade Park redevelopment started in 2014, but development setbacks and a lengthy legal battle between Gamma Real Estate and Wade Park Land stalled the project, leaving an unsightly hole in the ground.

A judge dismissed the case in March, allowing JVP, which took control of the property in 2019, to ramp up discussions with Frisco officials.

“Right now, what’s out there looks like the moon – you have a giant hole and some half-completed buildings,” JVP Management’s Tim Campbell told the outlet. “It’s been six or seven years that the residents of Frisco have been looking at that, and it’s time to get something beautiful in its place.”

Frisco’s development pipeline is loaded with large-scale mixed-use projects. Hall Group, for instance, is leading a $7 billion development called Hall Park, a 15-building complex with a luxury hotel, residential towers and office towers. Across the street is the Dallas Cowboys’ Star, a $1.5 billion project spanning 91 acres along the Dallas North Tollway.

—Quinn Donoghue