FRISCO — Construction embarked on Frisco’s next multi-billion dollar development.
An 80-acre multipurpose project called The Railhead is located on the Dallas North Tallway, just north of Frisco’s main street.
This project is one of Frisco’s largest projects, with offices, retail stores, restaurants, hotels and apartments.
The planned building surrounds an almost five-acre park with landscaping and water functions.
Developer Heady Investments and apartment builder JPI executives began working on $ 2.5 billion on Tuesday with Frisco staff.
The first phase is a community of 450 apartments built by JPI.
The location of the project (between the new PGA headquarters and the resort and the Dallas Cowboys Star in Frisco Development) was a major factor in the project’s JPI planning, said Miller Sylvan Senior Vice President.
“This community will be JPI’s fourth development in the city of Frisco,” says Sylvan. “This community has 17,000 square feet of retail space on the ground floor and 13,000 square feet of amenity space for residents.
“There is a rooftop deck of about 2,000 square feet overlooking the park,” he said. “We took the design inspiration from the train station of the 1920s and incorporated it into our architecture in a modern way.”
Railhead’s plans include more than one million square feet of offices, hotels, high-rise housing, and 1,280 apartments.
JPI will begin work in the renting community after Railhead developers have completed the property infrastructure between the toll road and Legacy Drive. “As soon as we introduce roads and utilities, they will get permission to build,” said developer Randy Hedy.
Heady Investments has partnered with longtime Frisco landowner Jim Newman on The Railhead.
“Our family originally came here in 1841,” Newman said. “The railroad passed through the town in 1902, and it changed everything — even the name of the town after the Frisco railroad, which is the origin of its name.
“This new multi-purpose facility provides an exciting destination for future residents in honor of Frisco’s heritage,” he said. “Today we are proud to have this vision in place, and I know the city is pleased with another $ 1 billion in real estate development on toll roads.”
In addition to Newman, other investors in the project include Shula Netzer and Terri Green.
Railhead has up to five high-rise office and hotel sites on the east side of the property along the toll road. The apartment faces the park and will be built on the west side of the development. Other sites can accommodate a combination of retail space and office space.
Funding for development is provided by Simmons Bank.
Heady Investments is in talks with several other companies interested in this project.
“We are interested in developing offices over 2 million square feet,” said Sayres Heady, Executive Vice President. “There are two hotels that have shown interest.
“We have medical users who are interested in building,” he said. “We have identified the concept of seven seated restaurants, three of which have been verbally committed.”
Railhead will join 2,500 acres of Field Development, Hall Park, Frisco Station, Frisco Star and participate in major multipurpose real estate projects in the city.