Frisco: Wade Park

[jrd1964]

Well, this place seems to have 9 lives.

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

[DAFW]

[Redacted]

[Tnexster]

Is it wrong to be happy this partially built and dead project with a giant unfinished deepwater pond is sitting in Frisco and not downtown?

[jrd1964]

Once more.... this has to be one of the most-foreclosed-on properties in north TX at this rate.

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

[Tnexster]

What Frisco's floundering $2 billion Wade Park development says about the D-FW economy

https://www.dallasnews.com/business/rea ... fw-economy

[tamtagon]

^That sounds reasonable, backing up a lot of forum talk. If the softening continues, the remaining big relocations that happen will be able to move uniqueness to the list of requirements instead of preferences. Should that happen, the suburban sites are diminished because no matter how different they are from each other, they are all about the same when compared to an urban site in downtown Dallas or Fort Worth, and maybe Las Colinas if living or working or hanging out around Lake Carolyn is able to become a thing.

I don't remember that Plano ever had a project anywhere near the size of Wade Park go into hibernation, but cumulatively I'd bet the scale was of unfinished deals had been similar after Plano's initial generation of remarkable employment center growth.

[Tnexster]

I have always felt that Legacy West sort of sucked the life out of everything else around it while it was such a hot ticket. It will be fun to see what happens with Legacy East if any of that gets off the ground. Plano has a solid reputation building live-work-play environments that seem to be well received even if flawed by their lack of connectivity and surrounded by an expensive tollway system. There has been some talk about the strain on workforce availability and the excessive costs associated with driving in from the south which has shifted the focus of relocations and expansions south to less costly environments closer to the city center and airports. I also wonder how much relocation talk is currently being constrained by Amazon, nobody is going to want to go where they go since that move will suck the life out of talent availability wherever they land.

[The_Overdog]

Amazon, nobody is going to want to go where they go since that move will suck the life out of talent availability wherever they land.

I think there is a large component to this, but not because they suck the talent but rather because they are doing very public legwork concerning amenities/concessions/buildout that normally is very private and very costly. Every mega company is going to have a template they can copy once this is completed.

[Kelley USA]

Hmmm… I guess we'll see what happens. I would love for this to get off the ground though!

https://www.dallasnews.com/business/rea ... dy-restart

[itsjrd1964]

Didn't they lose all their prospective tenants in the last few months?

[Tnexster]

Will have to see how it gets reborn, that's a pretty big hole in the ground for whatever ends up going on top of it. Wade Park was a very ambitious project and maybe it would have done better had it come out of the ground on schedule and not get delayed. That delay seemed to benefit Legacy West.

[Kelley USA]

I would assume that a number of tenants that backed out would still be open to signing a new lease... And I'm sure they've been working over the past year or so to get new commitments. I doubt they would get any new funding if they didn't already have some signed leases. I'm just confused as to where they already spent $130 million??

[Tnexster]

I would assume that a number of tenants that backed out would still be open to signing a new lease... And I'm sure they've been working over the past year or so to get new commitments. I doubt they would get any new funding if they didn't already have some signed leases. I'm just confused as to where they already spent $130 million??

Good question, is there $130 million worth of work in grading the land, utilities, some roads and digging that giant swimming pool?

[Tnexster]

Lenders still threatening Frisco's Wade Park with foreclosure sale

https://www.dallasnews.com/business/rea ... osure-sale

[Tnexster]

Developer of Frisco's stalled Wade Park expects project to move forward

https://www.bizjournals.com/dallas/news ... organ.html

[Kelley USA]

They should move Wade Park to Six Flags because this thing is a roller coaster!! I still doubt they get it done, but I'd love to see it happen.

[cowboyeagle05]

Yeah, this news report is just more lip service.

[tamtagon]

hahaha I love these advert-headlines! For a change, how about, "Developer of stalled Wade Park expects project to evaporate."

[Tnexster]

Interesting side line about the Nashville project.

[Tnexster]

Wade Park developer Thomas files for bankruptcy for project outside Nashville

https://www.bizjournals.com/dallas/news ... y-for.html

[tamtagon]

doh!

[Kelley USA]

Well never say never, but this does sound a little more promising. The thing that really stood out was the expected pace of build-out and the fact that they have not downsized the development at all. Assuming that if you're getting $850 million in new funding then you MUST have quite a few tenants signed and still on-board for the retail / restaurant space.

Again, have always been a fan of this proposal so would love to see it happen!

https://www.dallasnews.com/business/rea ... rk-project

[texasstar]

Well, this place seems to have 9 lives.

ining

No kidding!!!

[texasstar]

Well, this place seems to have 9 lives.

No kidding!!!

[DAFW]

Oh wow If that funding really does come through, It looks like Wade Park might actually get off the ground. A lot can happen with $850 Million, and if its all for only phase 1, Somethings GOT to be built.

I wonder if all the tenants that backed out will come back? or new tenants will sign on once things get moving again.