Frisco Development Update March 2016

Transcription

1 Frisco Development Update March 2016

2 FRISCO IS CENTRALLY LOCATED All major cities in the continental U.S. are within a four hour flight time

3 DALLAS-FORT WORTH METRO 25 minutes from DFW International Airport & Dallas Love Field

4 Frisco Fast Facts & Stats Land square miles 70.2 Land Developed 62% Growth Rate % Population ,050 Population 2000 Census 33,714 Population Build Out 375,000+

5 Residential Demographics Average Age 36 Households w/children 32.9% 17 & younger Median Household $115,603 Income Average SF Home $359,924 Appraisal Median Monthly Mortgage $2,187

6 Frisco Independent School District and Workforce Enrollment ,685 Projected Enrollment ,848 High Schools 8 Number of Schools 64 Residents % w/bachelor s or Grad Degree Workforce Estimate 70,184 Unemployment 3.2%

7 Frisco Residential Development Single-Family SF Building Permits: 2,169 2,275 SF Lot inventory: 2,598 2,862 Months of inventory: SF Lots in pipeline: 6,469 8,057 Months of inventory: Unit Inventory: Multi-Family 3,386 7,112 Urban Living/Mixed-Use 3,739 3,006 Total 7,125 10,118 Source: City of Frisco Development Services

8 New Commercial Building Permit Activity

9 Frisco Office Space Existing Available Class A/B/C Buildings Existing Available SF 4,973,912 5,304,652 Vacant SF 638, ,048 Vacancy Rate 12.8% 12.7% Gross Rent Per SF $28.41 $29.16 Source: CoStar Report

10 Frisco Retail Development Existing Available Buildings Existing Available SF 9,969,131 10,172,257 Vacant SF 373, ,910 Vacancy Rate 4.6% 3.8% NNN Rent Per SF $23.47 $24.26 Source: CoStar Report

11 Future Jobs in Frisco/Plano Frisco Plano The Gate 3,500 The Star in Frisco 4,500 Frisco Station 14,722 Wade Park 22,000 Total 44,722 FedEx Office 1,200 Toyota 6,000 Liberty Mutual 4,000 JP Morgan Chase 6,000 Fannie Mae 1,000 Total 18,200 Grand Total 62,922

12 THE $5 BILLION MILE #5BMILE

13 $5 Billion Mile Developments ONE MILE: Dallas North Tollway between Warren Pkwy. & Lebanon Rd. $1 Billion FOUR PROJECTS: The Star in Frisco Frisco Station The Gate Wade Park $5.7 BILLION: Investment that has been announced or is already under construction

14 $5 BILLION MILE (By the Numbers) Size of Development Potential Investment Commercial Square Footage Office Square Footage Potential New Direct Jobs The Star in Frisco 91 Acres $1,000,000,000 1,708,000 1,000,000 4,500 Frisco Station 242 Acres $1,700,000,000 5,297,000 5,100,000 14,772 The Gate 41 Acres $1,000,000,000 1,080, ,000 3,500 Wade Park 175 Acres $2,000,000,000 6,500,000 6,000,000 22, Acres $5,700,000,000 14,585,000 12,900,000 43,772

15 THE STAR IN FRISCO $1 Billion Dallas Cowboys World Corporate Headquarters & Training Facility 91 Acres NWC Dallas North Tollway and Warren Parkway

16 THE STAR IN FRISCO $1 Billion Dallas Cowboys World Corporate Headquarters & Training Facility 91 Acres NWC Dallas North Tollway and Warren Parkway

17 The Star in Frisco 91 acres, mixed-use project 71 acres developed by the Dallas Cowboys 1,708,000 SF commercial 2 hotels with 480 rooms total (Omni Hotel announced October 2014) 4,500 potential new jobs at build out

18 The Ford Center at The Star in Frisco Ford Motor Company & Texas Ford Dealers - long-term sponsorship & naming rights Publicly-owned, 557,881 SF, 12,000 seat multi-use events center / indoor stadium & practice fields Dallas Cowboys World Corporate Headquarters - 411,000 SF Class A office building Opening: summer 2016

19 Omni Hotel at The Star in Frisco 16 stories Opening: hotel rooms 250,000 square feet 43,000 sf conference center 13,000 sf ballroom & 24,000 sf breakout space

20 FRISCO STATION $1.7 Billion Developer: Rudman Partnership, Hillwood Properties, VanTrust Real Estate 242 Acres NWC Dallas North Tollway & Warren Parkway

21 Frisco Station Office space: 4,489,000 SF Potential direct jobs: 14,772 Medical office: 990,000 SF Hotel rooms: 200 Retail: 200,000 SF Single-family units: 120 Restaurants: 75,000 SF Multi-family units: 2,400

22 THE GATE $1 Billion Developer: Invest Group Overseas 41 Acres NWC Dallas North Tollway & John Hickman Parkway

23 The Gate 41 acres, 2.3M SF development (4) 8-story, 800,000 SF, Class-A office buildings Luxury 90-room, 150,000 SF boutique hotel (2)10-story luxury condos 980 luxury apartment units 100,000 SF restaurants & retail

24 WADE PARK $2 Billion Developer: Thomas Land Development 175 acres SEC Dallas North Tollway & Lebanon Road

25 Wade Park 175 acres, mixed-use project Office: 6,000,000 SF Hotels: rooms Retail: 900,000 SF Residential: 1,300 units Whole Foods, ipic Theatre, Pinstripes, Hotel ZaZa, Langham Hotel, The Rustic

26 Langham Hotel Tower at Wade Park Developer: Langham Hospitality Group 35-story tower 25 floors for luxury hotel 250 hotel rooms 25,000 SF meeting space Rooftop pool deck 10 floors for residential homes Opening: early 2018

27 1. Frisco Bridges Place 2. Drury Inn & Suites 3. Frisco Hyatt House 4. Frisco Hotel Indigo 5. Texas Scottish Rite Hospital 6. Verona Villa 7. Stonebrook Business Park 8. The Tower at Frisco Square 9. National Soccer Hall of Fame 10. Frisco Fresh Market

28 Frisco Bridges Place Developer: Heady Investments Spec, six-story, Class-A office building, 100% covered parking 170,000 SF Office building Completion 1st quarter 2016

29 Drury Inn & Suites Developer: Drury Southwest, Inc. SE corner Gaylord Pkwy & DNT 9-story hotel 185 rooms 3,000 SFof meeting space 200 parking spaces Completion: 2017

30 Frisco Hyatt House Developer: Newcrestimage Six-story 132 rooms Opening 2016

31 Frisco Hotel Indigo Developer: Dabu Hotels, LLC SWC Avenue of the Stars & Seei Circle 6 Story Hotel 110 Guest rooms Blacklands Bar & Grill

32 Texas Scottish Rite Hospital NEC of DNT & Lebanon Road Developer: Scottish Rite Hospital 40 acres 280,000 SF ambulatory care center Conference center 30 acres: parks/sports fields Expected completion: 2017

33 Verona Villa (NWC Dallas Pkwy at Stonebrook Pkwy) Tuscan-style event center Expected completion: summer ,000 SF Upscale indoor flex space & lush landscape, outdoor space Weddings, life events, corporate meetings & conferences

34 Stonebrook Business Park Developer: Goveia Commercial Real Estate Class A office space: 600,000 SF Hotel: 150 rooms Retail & restaurants: 27,000 SF Conference Center

35 Tower at Frisco Square Developers: Wolverine Interests & Encore Office, LLC 5 story, class A office building 155,000 SF Gearbox Software corporate headquarters & production studio Groundbreaking: August 20, 2014 Opened: Dec. 3, 2015

36 National Soccer Hall of Fame Located within Toyota Stadium Front Entrance 100,000 SF $39,000,000 project 24,000 SF exhibit space Groundbreaking: March 2016 Completion: December 2017

37 Frisco Fresh Market NEC Main Street at Frisco Street 32-acre farmers market, mixed-use development 100,000 SF retail 200,000 SF office 600 multi-family units 120 room limited service hotel

38 Gander Mountain Eldorado Marketplace 60,000 SF retail Opening in fall 2016 NWC Eldorado and Dallas North Tollway

39 Thank You James L. Gandy, CEcD, CCIM President Frisco Economic Development Corporation