A mixed-use development on Brinkmann Ranch has officially broken ground with a Tom Thumb grocery store. Other areas of the ranch will soon be developed for housing, retail and other amenities.

On Feb. 16 Frisco leaders and community members gathered on the corner of Eldorado Parkway and Coit Road, to celebrate the groundbreaking of Tom Thumb. The store will take one of the remaining slots of land on the 600-acre development, called Lexington Village. 

During the groundbreaking event, a check for $10,000 was presented to the Frisco Education Foundation by Tom Thumb to thank them for their hard work in education. 

Local Profile previously reported the mixed-use development will bring in 2,500 single-family residences, 2,200 multifamily units, schools, parks and an amenity center for residential use. In addition to the Tom Thumb, 30,000 sq. ft. of in-line retail, restaurant space and three out parcels will be included at the new development. 

According to the financing team Northmarq, Landon Homes purchased the 637 acres of the Brinkmann Ranch land east of Preston Road for the construction of the residential and commercial community in 2020. 

Bobby Weinberg, managing director, and Mason Brower, vice president of Northmarq’s Dallas debt and equity team arranged the financing of the development. A $25,441,000 loan carries a term of 5 years with 3 years of interest, followed by a 30-year amortization schedule. Northmarq secured the loan for the borrower and developer, Centergy Retail, through its relationship with a local bank. 

“Our team was able to secure a lender who offered the best combination of leverage and pricing on a non-recourse basis,” Weinberg said in the statement. “We are very happy to have facilitated this first interaction between our borrower and this lending partner.”  

The grocery store and the rest of the development are expected to be completed by 2024.