The Frisco City Council approved a master development agreement, allocating up to $113.4 million for the development of The Mix. This approval allows the project to proceed with construction.
The Mix, located at the former site of Wade Park at the southeast corner of Lebanon Road and Dallas Parkway, is expected to create a vibrant, walkable neighborhood, along with substantial job opportunities and economic growth.
“I’ve often said the final story — of what was once called Wade Park — will be a positive one,” said Frisco Mayor Jeff Cheney in an official statement. “Now rebranded as The Mix, tonight marks the next chapter in this development story. The planning and zoning commission spent a lot of time working with the developer to come up with an even better and improved site plan providing more open space and amenities. Thoughtful negotiation related to performance criteria requires the developer to deliver the underground parking garage before any incentives are paid. I’m excited about this next chapter in the story about The Mix and look forward to breaking ground.”
This 112-acre mixed-use development, valued at $3 billion, will feature two million square feet of class-A office space, 375,000 square feet of retail space, two hotels, as well as townhomes and urban living units. The Mix will also include a large park and over 16 acres of open space.
The agreement outlines $113.4 million in performance-based grants from the city of Frisco, the Frisco Economic Development Corporation (FEDC) and the Frisco Community Development Corporation (FCDC) to fund phase 1 infrastructure. This phase covers key aspects such as property remediation and the construction of an underground parking garage.
The $113.4 million agreement includes a $10 million reimbursement-based infrastructure grant, approved by the FEDC board. This grant ensures an accelerated construction timeline for the upscale grocer, with permanent occupancy required before the funds are disbursed.
Incentives will be provided to The Mix Partners, LLC only upon the successful completion of several key components, including a 114,000-square-foot Class A medical office, a 40,000-square-foot upscale grocery store and 33,000 square feet of upscale retail space. Additionally, the project will feature 630 townhomes and urban living residential units, as well as parks, trails and open space. An underground parking garage with a capacity of 2,250 spaces and enhanced property screening during construction will also be required for the disbursement of these incentives.
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