Page 1 of 1

Frisco: Wade Park

Posted: 18 Nov 2016 15:28
by Tnexster
Frisco’s $2 billion Wade Park project stuck in slow lane on the tollway

http://www.dallasnews.com/business/real ... ne-tollway

One of the biggest projects on Frisco's much touted $5 billion mile may also be one of the slowest.
The $2 billion Wade Park development is the most ambitious of several huge mixed-use developments in the works along the Dallas North Tollway.

The 175-acre project at the southeast corner of the tollway and Lebanon Road is planned to include about 600,000 square feet of retail; two luxury hotels; up to 6 million square feet of commercial office space, 1,300 apartments, condominiums and single-family homes.

A Whole Foods Market, iPic Theatre, Pinstripes bowling center and Hotel ZaZa are among the anchors named so far.

The first phase of the Wade Park shopping center was scheduled to open late next year, but it's been postponed into 2018.[/color]

Re: Frisco: Wade Park

Posted: 18 Nov 2016 15:49
by texasstar
Legacy West is sucking all the air out of the $5 Billion mile. For now.

Re: Frisco: Wade Park

Posted: 19 Nov 2016 15:04
by Tnexster
^It would appear that way

Re: Frisco: Wade Park

Posted: 21 Nov 2016 10:31
by muncien
I have little doubt that it'll be a success eventually, but there has to be some concern about travel time to the big airport the further away you get... not to mention the fact that you have to travel through the added traffic of Legacy West & friends just to get there.
It'll all work out in the end, but may be a bit smaller than originally intended. It's not that the area isn't hot, it's just that there's soooo much available that competition will be stiff...

Re: Frisco: Wade Park

Posted: 23 Nov 2016 11:25
by Kelley USA
It's so funny... I went past this development this morning on my way past all the other developments. There was tons going on over at Legacy West, lots of workers on site, drove past The Star and saw the same thing, lots of activity, next door at Frisco Station lots of heavy machinery in motion, and then I come upon Wade Park. There was 1 single truck driving around the site. I mean there's nothing! The Wade Park website hasn't been updated in over 2 years and the last post on their Facebook page was July 2015 (16 months ago). Very strange!

Re: Frisco: Wade Park

Posted: 23 Nov 2016 12:51
by Tnexster
It is very strange, makes me wonder. There is a lot in the pipeline just down the road so I wonder if it is too much too fast.

Re: Frisco: Wade Park

Posted: 29 Nov 2016 15:23
by muncien
Interesting bit of news on Wade Park and it's developer... courtesy of the DBJ

Developer of $2B Wade Park in Frisco battling MetLife over mega-ranch
http://www.bizjournals.com/dallas/news/2016/11/29/developer-of-1-7b-wade-park-in-frisco-battling.html

MetLife Inc., which has a $30 million first mortgage secured by the ranch, is rejecting the proposed sale and is seeking to foreclose on the property


In Atlanta, nine of Thomas’ business entities have filed for Chapter 11 bankruptcy since 2009, the Atlanta Business Chronicle reports. In that city, Thomas had envisioned a $700 million mixed-use project called Prospect Park at Georgia 400 and Old Milton Parkway in Alpharetta. But that project stalled amid the downturn, was later foreclosed on, and then acquired by another developer, according to the Chronicle.


But they go on to insist that Wade Park is moving along fine and about to really kick off...
"The Wyoming ranch has nothing to do with Wade Park in Frisco," Thomas told the DBJ."We are about to announce some huge leases and the project has been going fabulous.

"The steel for the first phase will be delivered to the site next Friday because we let our tenant change their steel plans," he added. "The week after that we will have eight crane towers delivered. This is a big project and we wanted to open it all up at one time."

Re: Frisco: Wade Park

Posted: 29 Nov 2016 18:45
by Tnexster
Well, I guess we will know next week and the week after that. Let's see what happens.

Re: Frisco: Wade Park

Posted: 31 Jan 2017 12:22
by Tnexster
WADE PARK GETS ‘BREATHING ROOM’ WITH $83M IN BRIDGE FINANCING FROM NEW YORK-BASED INVESTOR

Read more at: https://www.bisnow.com/dallas-ft-worth/ ... um=Browser

Re: Frisco: Wade Park

Posted: 30 May 2017 10:32
by Kelley USA
I drove past this project over the weekend... A little bit of movement is going on, but I did notice the base for what seemed like 3 or 4 cranes have gone in. Might see the cranes go up anytime now!

Re: Frisco: Wade Park

Posted: 30 May 2017 11:23
by Tnexster
I believe those crane bases have been in place for a while, I have seen them but its been a few weeks. This strikes me as an incredibly slow process.

Re: Frisco: Wade Park

Posted: 30 May 2017 12:19
by tamtagon
So, there's 5 'participants' making up the Billion Dollar Mile, right? Are they all proceeding?

Re: Frisco: Wade Park

Posted: 30 May 2017 14:21
by Tnexster
It's four mixed-use developments and yes they are all proceeding. Frisco Station will be one of the first of two world's VTOL Uber Elevate landing locations which will add a new dimension to this area. Who needs a train when you can fly over everything to DFW. Farther but faster.

Re: Frisco: Wade Park

Posted: 30 May 2017 14:27
by Tnexster
Little video of Wade Park

https://vimeo.com/167938512

Re: Frisco: Wade Park

Posted: 30 May 2017 14:55
by dukemeredith
The number of Ferraris, Lamborghinis, Bentleys, Maseratis and Mercedes-AMG GTs in that video... :roll:

All I could think was: where are the Astons? :lol:

Re: Frisco: Wade Park

Posted: 30 May 2017 15:54
by DPatel304
Grand opening set for 2017? Sooner than I expected, although I imagine that doesn't doesn't necessarily mean all buildings will be complete.

Re: Frisco: Wade Park

Posted: 30 May 2017 16:04
by Tnexster
I don't know what part they think will be opening in 2017. Maybe a coffee shop but if they haven't even raised the cranes yet it would seem a long ways off.

Re: Frisco: Wade Park

Posted: 30 May 2017 16:59
by Kelley USA
They are currently building the Whole Foods side of the development. That part is actually quite a bit along.

Re: Frisco: Wade Park

Posted: 30 Jun 2017 15:33
by Tnexster
Kelley USA wrote:I drove past this project over the weekend... A little bit of movement is going on, but I did notice the base for what seemed like 3 or 4 cranes have gone in. Might see the cranes go up anytime now!


A month later, the bases are still in place, looks like the pieces for the rest of the cranes are on site but just laying on the side.

Re: Frisco: Wade Park

Posted: 01 Jul 2017 13:30
by BiscuitHead
Major utility work had to be done on this property. Could be a reason for slow progress.

Re: Frisco: Wade Park

Posted: 08 Aug 2017 12:21
by Tnexster
I did hear recently that the decision was made to build out the entire development at once and not in phases but I have not been by to see if much has changed.

Re: Frisco: Wade Park

Posted: 08 Aug 2017 12:32
by tamtagon
Considering how well Plano West has done, the barreling resurgence of Las Colinas and the stealthy success of Cypress Waters, Frisco's $5 Billion Mile might lose a billion or two for a decade or so....

Re: Frisco: Wade Park

Posted: 08 Aug 2017 12:43
by Tnexster
tamtagon wrote:Considering how well Plano West has done, the barreling resurgence of Las Colinas and the stealthy success of Cypress Waters, Frisco's $5 Billion Mile might lose a billion or two for a decade or so....


Truth here, Legacy West has already sort of "stolen the show" but south Frisco is plugging along with the Star and Frisco Station coming out of the ground and moving ahead but the word is out on access to labor and cost of living issues up in this area so the momentum appears to have made the shift south.

Re: Frisco: Wade Park

Posted: 16 Oct 2017 19:03
by Jasimm
Some tenants leave as Wade Park in Frisco delays opening to 2018

"The expected opening date for Wade Park’s first phase has been pushed back to 2018, according to an incentive agreement with the developers of the 175-acre mixed-use project.

The delay postpones the opening of Wade Park’s tenants, some of which have been announced for a few years. Several of the 23 announced tenants, including Hotel ZaZa, are no longer committed to Wade Park. Blo Blow Dry Bar, The Lash Lounge and Bread Zeppelin have also pulled out of the project, representatives from the businesses said. Representatives from The Rustic and Torchy’s Tacos would not confirm whether the restaurants are still committed.

Frisco residents have been waiting since 2014 for the highly anticipated Whole Foods Market, which was first projected to open in 2015. The health-conscious supermarket chain is still committed to the project, but its opening date has moved to 2019, said Stan Thomas, CEO of Thomas Land & Development, Wade Park’s developer..."



https://communityimpact.com/dallas-fort ... ning-2018/

Re: Frisco: Wade Park

Posted: 16 Oct 2017 22:10
by DAFW
LOL Wade park is really tanking. At this point the same old shops concept is getting exhausted and overused, Wade Park needs a major entertainment venue/attraction or a MAJOR...MAJOR corporate relocation in its office tower section if it wants to be successful, because it doesn't seem like the Langham resort (although it is quite stunning) is much of an attraction to keep businessess from looking elsewhere...hmm :roll:

Re: Frisco: Wade Park

Posted: 16 Oct 2017 23:53
by mwaskow
I loved the potential of this development. The tenants were unique (Patagonia, Rustic, iPic, Hotel ZaZa, Steel City Pops, etc.) compared to a lot of other mixed use developments in the area. The retail and restaurant tenants far exceed those of developments like City Line, but they’re missing the employment HUB like State Farm. I don’t have a lot of faith in this developer pulling anything off at this point. They should sell the land to someone capable of such a grandiose project. Put this into the same coffin as Dallas Midtown. Nice dreaming boys. Maybe we’ll see these take life in the next cycle.

Re: Frisco: Wade Park

Posted: 17 Oct 2017 07:29
by tamtagon
Good marketing introduced the Frisco $5 Billion Dollar Mile strong and all at once. The Dallas Cowboys are a potent anchor, and the North Dallas Tollway will continue to be the new growth corridor it's been for two generations. A decade will have passed before we know how two thirds of this stretch of road will form. Stonebriar Mall & Ballpark might even redevelop before the $5 Billion Dollar Mile reaches the half way point.

Frisco needs to dwell on getting trains hooked into the Cotton Belt, Green and/or Red Line.

Re: Frisco: Wade Park

Posted: 17 Oct 2017 08:41
by Tivo_Kenevil
What is with the fascination of getting rail to Frisco, Mesquite, McKinney, Grand Prairie.. These cities have already rejected DART.

They don't want to give up a 1% sales tax to an agency that hasn't done anything to promote growth within their cities. Frisco, in particular, already uses that would be sales tax to lure relocations. They're not signing up for anything; they already have a winning formula.

Re: Frisco: Wade Park

Posted: 18 Oct 2017 16:58
by Tnexster
At one point recently I heard that they intended to build the entire project at the same time and not in phases. I guess that plan went south. However, I also know that the success of Legacy has driven relocation prospects south to more affordable locations so maybe what we are seeing here is resistance to the distance and costs of doing business in Frisco/Plano.

Re: Frisco: Wade Park

Posted: 08 Dec 2017 08:09
by tamtagon
More bad press for Wade Park:

https://www.dallasnews.com/business/rea ... paid-bills

Frisco's $2 billion Wade Park project facing legal woes for millions in unpaid bills
Steve Brown, Real Estate Editor

...It's been more than three years since ground was broken for the $2 billion Wade Park project on the Dallas North Tollway. The 175-acre complex at the southeast corner of the tollway and Lebanon Road is the largest of several big mixed-use developments in the works along that stretch. Wade Park has also been the slowest of these Frisco developments to get going. Work recently stopped altogether, with two uncompleted retail buildings — along with a huge hole in the ground — being all there is to show for the ambitious deal. Now, construction companies that have worked on the project are taking legal action for unpaid bills on Wade Park. Contractors and suppliers are seeking more than $7 million in unrecovered costs for the mixed-use development, Collin County records show.
...
A Thomas Land official said late Thursday that they would provide an update on the project next week.


Any such an ambitious conglomeration inevitably would have run into problems. Not such a surprise that the largest of the players in the $5 Billion Mile stumbled. Probably wont idle without paying bills trying to regroup for too long, though, CoCo is a big deal and Wade Park location is outstanding. The longer the pause the more likely that whatever remains of a consolidated Wade Park project evolves a masterplan that answers community-identity questions.

Re: Frisco: Wade Park

Posted: 08 Dec 2017 21:26
by Tnexster
I would not be surprised to see a much scaled back version evolve from this.

Re: Frisco: Wade Park

Posted: 09 Dec 2017 18:32
by mwaskow
Tnexster wrote:I would not be surprised to see a much scaled back version evolve from this.


Maybe KDC can come on board and save this project! These guys aren’t equipped for such an ambitious project.

Re: Frisco: Wade Park

Posted: 11 Dec 2017 12:05
by exelone31
With that gigantic hole in the ground, I'm sure some enterprising water park operator could come in and turn it into the world's largest, deepest pool!

Re: Frisco: Wade Park

Posted: 11 Dec 2017 15:24
by DAFW
Okay now thats a concept. Turning the land that wade park was supposed to go on, into a giant waterpark. The langham resort could stay and act as the Waterparks resort. The hole would probably still be used as the hotel's parking garage though.. :/

Oh well.

Re: Frisco: Wade Park

Posted: 11 Dec 2017 15:28
by muncien
Took me like an hour to get what was going on here...

wade
wād/Submit
verb
1.walk through water or another liquid or soft substance.

Re: Frisco: Wade Park

Posted: 11 Dec 2017 15:28
by muncien
muncien wrote:Took me like an hour to get what was going on here...

wade
wād/Submit
verb
1.walk through water or another liquid or soft substance.



I need some caffeine

Re: Frisco: Wade Park

Posted: 12 Dec 2017 14:46
by exelone31
muncien wrote:
muncien wrote:Took me like an hour to get what was going on here...

wade
wād/Submit
verb
1.walk through water or another liquid or soft substance.



I need some caffeine


Hahaha, that's brilliant!

Re: Frisco: Wade Park

Posted: 12 Dec 2017 20:17
by CTroyMathis
"UpTowne Frisco" never materialized a decade ago, either. But, then again, it was just on paper.

http://www.cwilke.com/UpTowne_frisco_si ... -28-06.pdf
https://goo.gl/maps/jqs3uwuJFuT2

Re: Frisco: Wade Park

Posted: 13 Feb 2018 02:45
by jrd1964
https://www.dallasnews.com/business/rea ... rk-project

"Turn out the lights (if they were ever on?)...."

Re: Frisco: Wade Park

Posted: 15 Feb 2018 00:03
by mwaskow
The whole $5 Billion Dollar Mile is such a joke. Only half of the projects are actually getting built now. That’s Frisco station and the Star. No progress on The Gate, last I heard they’re trying to sell of individual parcels to developers who they can convince of the vision. Wade Park is a very disappointing project. Looks to me like they’re losing momentum in the development game. Maybe Frisco jumped the gun thinking they were on Plano’s level to support this amount of commercial development. I wonder if Legacy West is a deterrent or catalyst for projects north on the Tollway? I think people are down to drive to Legacy West and the shops for that experience but Frisco seems too far to attract anyone but locals and they have to compete with the big boy Developments in Plano. All other Frisco developers should learn from Jerry Jones who actually appears to know what he is doing. Besides the Cowboys draw the unique resteraunt selections and quality of the development make it a draw for me.

Re: Frisco: Wade Park

Posted: 16 Feb 2018 08:15
by texasstar
I wouldn't pooh pooh the whole thing just yet. A 25-story Skyhouse was announced for Frisco Station today. Frisco will be fine.

Re: Frisco: Wade Park

Posted: 16 Feb 2018 09:49
by tamtagon
^Totally.

I would go so far as to say the rebooting of Wade Park is better in the long run. As long as the growth keeps coming, this is great real estate and would be timesXten better with a decade to simmer while everything around it boils. Keep this intersection in your back pocket, Frisco, until it's time to draw, the value of the land will be double and the development will be triple!

I would apply a similar holding pattern to some/much of the other two players in the $5 Billion mile.... mobility would certainly improve if each of the players were able to develop extra dense pockets of development based on some sort of controlled access public transportation circular.

Re: Frisco: Wade Park

Posted: 16 Feb 2018 11:50
by The_Overdog
I don't think anyone guessed that Frisco would be the next Skyhouse location. Just in case anyone is curious, the Frisco one built on empty land next to The Star is supposed to be 332 units in 25 stories, the Dallas original was 24 stories and 336 units, and Victory Park was 25 stories and 352 units.

Re: Frisco: Wade Park

Posted: 13 Mar 2018 21:26
by Tnexster
Second Wade Park lender also sets April foreclosure

https://www.dallasnews.com/business/rea ... oreclosure

Re: Frisco: Wade Park

Posted: 03 May 2018 06:08
by jrd1964
Time to kick the can for another month......

https://www.dallasnews.com/business/rea ... ight-month

Re: Frisco: Wade Park

Posted: 05 May 2018 13:35
by Tnexster
This isn't looking very promising. Maybe it was overkill for an area seeing so much of the same kind of development. Legacy West just stole all the thunder.

Re: Frisco: Wade Park

Posted: 07 May 2018 09:34
by exelone31
Tnexster wrote:This isn't looking very promising. Maybe it was overkill for an area seeing so much of the same kind of development. Legacy West just stole all the thunder.


And The Star too.

Re: Frisco: Wade Park

Posted: 07 May 2018 20:14
by Tnexster

Re: Frisco: Wade Park

Posted: 08 May 2018 13:58
by DAFW
I really want the land to just be given to the city, and let it sit for a while until its time for the next big thing. With all that land in such a prime location on the DNT so many amazing things could be done there. I'd hate for it to go to waste.

Re: Frisco: Wade Park

Posted: 08 May 2018 14:21
by muncien
I really don't have any insider information so my comments aren't worth much, but...
It seems like Frisco may have bitten off a little more than they can chew. They have already had some taxation backlash with bonds that were intended to fund school expansion failing to pass. I wonder how much tax $ they were expecting from all these places to fund the necessary infrastructure going forward. I'm sure they didn't count on everything getting built, but I'm also sure they'd prefer to have some tax revenue from this pricey land. Time will tell, I suppose.