Quick Search

Update: The Gate becomes even more palatial

The Gate in Frisco Update 2.23.16

UPDATE 2.23.16: ‘The Gate’ becomes even more palatial per DBJ 2nd Feb 2016

The Gate , CEO  Anas Kozbari recently announced through an interview with DBJ, that IGO has been putting finishing touches on plans for ‘THE GATE’ being developed by his Invest Group Overseas.

‘THE GATE’ is a 41 -acre mixed-use development in Frisco near Cowboys’ new headquarters, aka The Frisco Star, which as we all know is the new home for the Dallas Cowboys’ headquarters. At this time IGO is looking to get underway by the end of third quarter 2016.

NEWS FLASH:

Steve Brown Dallas Morning News 2.10.16 Section D Business Real Estate ‘40.6 acre property planned for high rise project with offices, apartment, retail’ HEADLINE – Frisco’s Gate tract for sale.

2.11.16  DBJ ‘Dubai-based investor puts The Gate’s $1B development plans on the market looking for partners’.  Information in DBJ article states …. ‘The Gate is being offered for sale with different parcels of the master development per Drew Kile of Institutional Property Advisors or ‘At the end of the day we could sell all the parcels making up The Gate or one buyer could come in and buy the entire project.

ABOUT THE TIME I think I’m gonna wrap this up another UPDATE comes across the wire so to speak.  Here’s the latest from  Candace Carlisle of DBJ with her article ‘Developer: $1B THE GATE project in frisco not for sale, now or later’.   That’s direct from IGO CEO Anas Kozbari and his key statement “Without a doubt the project shall be a great success to us and the city”.  To further cement IGO’s commitment to what looks to be a seven to ten year project CEO Kozbari stated IGO is deciding between two hotel flas for the marquee hotel to be located at the northwest corner of John Hickman Parkway and Dallas North Tollway.

Stay tuned for update on bottom line of what is transpiring here!  www.friscohomesandland.comSmith & Smith Realty

<><><><><><><><><><><><><><><><><><><><><><><>

Below text BLOG was posted on www.friscohomesandland.com 12.28.15

Frisco’s Economic Development Corporation has a lot on their plate for the next five to ten years. To get a better understanding of what’s going on you should be aware of the phrase Frisco’s $5B Mile and what all it entails.

When all is said and done  THE GATE will be a $700 million part of the $5B Mile in Frisco.  Headed by Dr Anas Kozbari CEO of the Dubai based IGO development firm.  Dr Kozbari first visited the Frisco area in late 2011 to meet with Frisco Mayor Maso and other city officials and scout out potential sites for The Gate.

The Gates’  main PROJECT FEATURES will be 17 magnificent buildings and 7 villas allowing for the enjoyment of open spaces in between the buildings and villas.  Which at street level both residents and guests will be able to stroll along paths lined with endless possibilities for shopping and leisure as practically every building has retail shops and restaurants on the ground floor level.

Beyond the retail and restaurants there will be four buildings dedicated to offices.  And the nice part of this arrangement will be the easy access to DNT plus convenient access to a truly urban lifestyle.  Overall there will be 980 apartment units in 7 separate buildings of 4, 5 and 10 stories.  In the 10 story buildings, residents will enjoy prestigious comfort and security with access to convenient interior parking facilities.

And of course business guests and travelers visiting The Gate in Frisco desiring Five-Star hotel facilities a 90 room boutique hotel, nestled near the pond area will provide memorable accommodations with VIP amenities and treatment as would be expected.  Those guests wanting a more personalized service there will have 7 (seven) pond-fronting villas that can be rented on a daily basis or beyond accordingly.

On a pure SQUARE FOOTAGE breakout ….. there will be 41 Acres (1,785,960 SF) of prime space along DNT and John Hickman Parkway with 1,212,000 SF of luxury residential space, 854,000 SF of office space, 148,000 SF in hotel space, 54,500 SF in retail space and 47,500 SF in restaurant space.

TAKEAWAY: The Gate when finished will be a testament to IGO’s commitment to deliver property solutions that will become a city landmark for FRISCO.

Frisco The Star Jerry’s World is getting in shape

Frisco The Star

Frisco The Star

The FORD CENTER is the official name of Jerry Jones’ new Dallas Cowboys headquarters.  And in today’s vernacular THE STAR which is the official name of the complex is also a mixed-use complex besides being the world headquarters of Mr Jones’ Cowboy empire.

Timing wise the goal at this time is for the 2016 NFL season the Cowboys will be at THE STAR for training camp in July of this year.   The center piece of the development is the multi-use event center, along with the outdoor practice fields and underground parking garage, make up the city owned (FRISCO) portion of the project.  Dollar ($) wise the price tag for what has been named THE FORD CENTER at THE STAR now stands at more than $255M.

The kick-off of the complex will be on August 27th so mark your calendars accordingly. Frisco’s youth will be a big focus in the new complex, whether it be high school teams competing in the stadium or a peewee league practicing on the plaza.  This first-of-its-kind development is a joint venture between The Cowboys, the city of Frisco and Frisco ISD.  The site will feature a 12,000 seat indoor stadium (good thinking as August/Sept temperatures can run in the mid 90’s to 100+ degrees in North Texas), two outdoor practice fields, Cowboy team headquarters building and multiple parking garages.

Then the fun part of the development that the general public will get to participate in  is the retail, restaurant and entertainment district south of the stadium will open in stages.  Additionally there will be a 16 story Omni Frisco Hotel – expected to be open by summer 2017 – which will include a Frisco city owned convention center with connections to the stadium and team headquarters.

Overall when said and done THE STAR will be a $1B development that also features  sports medicine center in partnership with Baylor Scott & White Health, a fitness center that includes the Dallas Cowboys Cheerleaders studio, and exclusive members only Cowboys Club (wonder what the buy-in fee is and the monthly dues will be), and lots of office space for those firms or organizations that want to be near The Star complex.

Cost wise besides the $255M noted as the portion being paid for by City of Frisco and the Frisco ISD the remaining cost will be borne by Blue Star Land (Jones family owned).  Additionally the Cowboys six story headquarters building has a working budget of $80M, with $25M of that being funded by the Frisco Economic Development Corporation.

TAKEAWAY: Overall THE STAR and FORD CENTER is a win-win for Frisco and North Texas in general.  And let us not forget Jerral Wayne Jones (aka Jerry Jones) is the PT Barnum of the 21st Century and one should never under estimate what this gentleman from Arkansas can do.

Developing Brinkmann Ranch Frisco

Brinkmann Ranch Frisco

It’s been a long time coming but Shaddock Development has bought a hunk of the fabled Brinkmann Ranch in Frisco for residential development and one other home developer John Landon of Plano based Landon Homes will be turning the 3,500 acre Brinkmann Ranch into subdivision developments in 2016.

The BRINKMANN RANCH has been seen as one of the most sought after and desirable sites in Collin County and now the City of Frisco’s planning and zoning committee has approved plans for a residential community and shopping center on the east side of the 3,500 acre ranch (Brinkmann Ranch).

The property is located on the east side of Main Street and Preston Rd. and runs north on Preston Rd to Eldorado Pkwy.  Landon Homes development will be a little further east of the Shaddock development on Main Street and Coit and initially will be a 200 acre subdivision.

Shaddock’s portion of the development will initially be a 171 acre tract @ the NW corner of Independence Parkway and Main Street.  The City of Frisco has rezoned this tract to accommodate retail and a variety of homes which will help fulfill a growing demand in Frisco.

Three years ago this consideration of ‘building out’ Brinkmann Ranch land was just a pipe dream.  But needless to say with the advent of Toyota, FedEx, Liberty Mutual, Nebraska Furniture Mart of Texas, Legacy West and Frisco’s $5B Mile the demand for more roofs was imminent.

Plans for Shaddock’s residential community include public park utilizing 3.7 acres of the 171 acres that would feed into a ‘hike and bike’ along Independence Parkway and Main Street.

Additionally the home side plan allows for both single family and  wide patio home lots on the 140 acres with up to 500 homes. And the balance of the 31 acres will be a shopping center on the corner of Independence Parkway and Main Street.

TAKEAWAY: Bill Shaddock has been a long time entrepreneur in the development of the Plano, Frisco, North Dallas housing market.  And the nice part of working with Bill is beside housing developments (Shaddock Homes) he also owns Capital Title (contact Stephanie Allen, Sr VP Sales @ 214.728.0998 cell/text) and Willow Bend Mortgage (contact Mike Wolfe, Sr VP Loan officer @ 214.704.0412 cell/text).

So as a REALTOR one can do what I call ONE STOP SHOPPING if one is so inclined and professionally I have dealt with all three divisions and highly recommend all three divisions.

What is THE GATE in FRISCO going to be?

The Gate in Frisco

Frisco’s Economic Development Corporation has a lot on their plate for the next five to ten years. To get a better understanding of what’s going on you should be aware of the phrase Frisco’s $5B Mile and what all it entails.

When all is said and done  THE GATE will be a $700 million part of the $5B Mile in Frisco.  Headed by Dr Anas Kozbari CEO of the Dubai based IGO development firm.  Dr Kozbari first visited the Frisco area in late 2011 to meet with Frisco Mayor Maso and other city officials and scout out potential sites for The Gate.

The Gates’  main PROJECT FEATURES will be 17 magnificent buildings and 7 villas allowing for the enjoyment of open spaces in between the buildings and villas.  Which at street level both residents and guests will be able to stroll along paths lined with endless possibilities for shopping and leisure as practically every building has retail shops and restaurants on the ground floor level.

Beyond the retail and restaurants there will be four buildings dedicated to offices.  And the nice part of this arrangement will be the easy access to DNT plus convenient access to a truly urban lifestyle.  Overall there will be 980 apartment units in 7 separate buildings of 4, 5 and 10 stories.  In the 10 story buildings, residents will enjoy prestigious comfort and security with access to convenient interior parking facilities.

And of course business guests and travelers visiting The Gate in Frisco desiring Five-Star hotel facilities a 90 room boutique hotel, nestled near the pond area will provide memorable accommodations with VIP amenities and treatment as would be expected.  Those guests wanting a more personalized service there will have 7 (seven) pond-fronting villas that can be rented on a daily basis or beyond accordingly.

On a pure SQUARE FOOTAGE breakout ….. there will be 41 Acres (1,785,960 SF) of prime space along DNT and John Hickman Parkway with 1,212,000 SF of luxury residential space, 854,000 SF of office space, 148,000 SF in hotel space, 54,500 SF in retail space and 47,500 SF in restaurant space.

TAKEAWAY: The Gate when finished will be a testament to IGO’s commitment to deliver property solutions that will become a city landmark for FRISCO.

What’s Rock ‘N Brewin’ in Grandscape

Rock & Brews in Grandscape

The Colony’s GRANDSCAPE development anchored by Nebraska Furniture Mart of Texas is making their stretch of 121 SRT a hot bed of restaurants.

And there’ll be a bunch of new faces (restaurants) never seen in North Texas before. It’ll include the likes of Rock and Brews which is owned by two ‘ol skewl Rockers from KISS! The restaurant concept was put together by frontman Paul Stanley and Gene Simmons the bass guitarist of the group.

Rock and Brews  will be one of many unique eateries in what is being touted as GRANDSCAPES $45,000,000 ‘boardwalk restaurant district’. The GRANDSCAPE ‘boardwalk restaurant’ development will be a 400 acre project, with an 11 acre man made lake fronting the boardwalk, that has also drawn other restaurant venues new to North Texas besides Rock and Brews (opening Spring 2016).

Probably one of the more unique combination restaurant and entertainment center coming to the Boardwalk Restaurant District will be LAVA CANTINA (opening Summer 2016) which is billed as a 1800 seat concert venue.

This will be Lava Cantina’s  second store with the original being in Baton Rouge, La.  When Lava Cantina opens in the second half of 2016 it will bring first class family entertainment via their 18,000 square foot venue with high quality Mexican and Creole Fusion and Live Rock & Roll.

Along with the boardwalk district, Grandscape will have two multi tenant buildings on the backside of NFM Texas where Plano Pkwy and Nebraska Furniture Mart Drive meet. At this time two new restaurants – Dog Haus and Bread Zeppelin  (both opening Fall 2016)- are the first to join the buildings.

Overall GRANDSCAPE, which is owned by Berkshire Hathaway as in Warren Buffet, has lined up nine stores to complement the mother ship Nebraska Furniture Mart of Texas store.  Of those nine two are hotel facilities Hampton Inn Suites and Homewood Suites both HILTON HOTEL franchises.

The other seven stores are restaurants of which four have already been noted above …. Rock and BrewsLAVA CANTINADog Haus, and Bread Zeppelin leaving Cheddar’s (which is already open), Hard 8 BBQ (opening Spring 2016),  and Mi Cocina (opening soon) and let me not leave out probably the worlds largest SUBWAY restaurant which is located on the east end/last entrance of the NFM Texas 560,000 square foot store.  See other NFM TX ‘FUN FACTS’.

TAKEAWAY:  One of the first official press releases announcing GRANDSCAPE and Nebraska Furniture Mart of Texas was coming to The Colony it was noted that when completed the two mile stretch of SRT/SH121 from Josey Lane in The Colony to Spring Creek Parkway in Plano would realize 8,000,000 cars a year traffic wise based on people coming to visit NFM TX.

Maybe the NTTA (North Texas Tollway Authority) should have a NFM TX 2 mile or so stretch and charge a small fee of $.50 per car.  Let’s see simple math says that would be an extra $4,000,000 in the NTTA kitty.

What does Crest Auto Group & NFM have in common?

Their all owned by Berkshire Hathaway as in Warren Buffett

So what’s the correlation here between the four car dealerships, which are all located on SH 121 Tollway  Crest Nissan , Crest Infiniti, Crest Cadillac and Stonebriar Chevrolet  within four miles of Nebraska Furniture Mart of Texas besides being a part of the Berkshire Hathaway portfolio.

Additionally as a cliff notes sidebar there’s actually one other car dealership besides the FOUR noted above which are all owned by Berkshire Hathaway Automotive under the CREST GROUP umbrella and that’s  Volvo of Dallas.  

Volvo of Dallas is currently located at the same location as Crest Infiniti and Crest Cadillac on Central Expwy right off of Parker in Plano.

But Volvo of Dallas will not be making the move to the new location on SH 121 in Frisco where their Nissan, Infiniti, and Cadillac stores will all be together when the build out of same is completed.

My personal speculation is that Volvo of Dallas will move into the present Crest Cadillac facility/showrooms on Central Expwy in Plano.

And it looks like VOLVO USA is making good strides in bringing the VOLVO brand back when the  brand was the first Scandinavian ‘rough and tumble’ economical automobile that just ran and ran for  VOLVO loyalist.

And you’re probably wondering how FOUR car dealerships fit into Mr Buffet’s Berkshire Hathaway’s group of easily his easily recognized icon businesses such as GEICO, Acme Brick Company, BNSF Burlington Northern Santa Fe Corp , Justin Brands (Justin Boots) which all have their corporate headquarters in North Texas.  

Plus Dairy Queen and Nebraska Furniture Mart have retail outlets in North Texas.

So the answer to the correlation of FOUR car dealerships Berkshire Hathaway Automotive and Nebraska Furniture Mart being all within 5 miles of each other is Berkshire Hathaway is the holding company for all.

Additionally after purchasing Van Tuyl Group and changing its name to Berkshire Hathaway Automotive  in Oct 2014 it has been indicated that the corporate headquarters will be moving from Phoenix to the new mixed-use development in Frisco known as  FRISCO STATION  and Frisco Station’s initial plans include many amenities conducive to a corporate tenant such as Berkshire Automotive Group.

At the time Berkshire Hathaway bought the Van Tuyl Automotive Group  it was doing in excess of $8 Billion in revenue, with 78 independently owned dealerships, 100 franchises in 10 states and currently sells 240,000 plus vehicles a year.   Berkshire Hathaway Automotive markets a total of  29 brands ,which are both domestic and foreign branded car companies, currently selling with a total inventory in NEW VEHICLES, around 31389  units as of this post, per Berkshire Hathaway Automotive web site.

And as noted by Mr Buffet, it makes sense moving the company to Dallas because Berkshire Hathaway owns several other companies based in North Texas such as Burlington Northern Santa Fe Corp, Acme Brick, GEICO, Justin Brands, plus Precision Castparts Corp which Berkshire Hathaway  just purchased this week for a record $32.3 Billion  and is Mr Buffet’s biggest deal/buy in the history of Berkshire Hathaway at this time.

List of Assets (companies) owned by Berkshire Hathaway

TAKEAWAY:

QUESTION: What financial impact does Berkshire Hathaway have on business tax and sales tax of their subsidiary operating companies located in North Texas?
ANSWER: I’d say the State of Texas and all the cities/counties within Texas that are fortunate to have one of Berkshire Hathaway’s businesses on their tax rolls should be more than grateful that the Oracle of Omaha has blessed them with the presence of one of his businesses or companies.

Maybe Grandscape should have its own zip code!

And Grandscape has 5 kissing cousins 

So maybe you don’t know what or where GRANDSCAPE is? 
Well it’s the crown jewel for The Colony and the center piece is Nebraska Furniture Mart of Texas

And you know the old adage ‘kissing cousins’ well we have FIVE (5) of those cousins here sharing in the spoils so to speak.

Those cousins are The Colony, Carrollton, Lewisville, Frisco and Plano. Also you have nearby cousins in the likes of Little Elm, Flower Mound, Prosper, North Dallas, Allen, McKinney who are close enough to the original five cousins that they’ll indirectly get one of those old fashion cheek smooches spill over kisses for just being close enough to benefit for being close to GRANDSCAPE.

One of he original press releases for NFM Texas and Grandscape was that after everything was up and running/built out…. 8,000,000 visitors a year would be coming through that TWO (2) mile stretch of SH 121 between Josey Lane in The Colony and Spring Creek Pkwy in Plano. WOW maybe NTTA should set up a special discount fee toll of $.50 per car in that two mile stretch…..what a revenue kitty that would be and help support the NTTA infrastructure overall.

Now to the side benefit that GRANDSCAPE and NFM Texas is bringing to Zip Code 88888 (that’s the zip code number I would assign to GRANDSCAPE if it were to have it’s own Zip Code) is all the restaurant, entertainment and hotel businesses that will be established here over the next 5 to 10 year build out.

In fact a new comer to the area Lava Cantina out of Baton Rogue, La will be bringing their 1,800 – capacity restaurant concert venue next year to The Colony.

TAKEAWAY: Things just seem to be getting better and better in our little slice of the world known as The Colony, TX! As Bob Barker used to say ‘Come On Down’ and that includes GE Corp and Jeffrey Immelt who is looking for a new corporate headquarters location. I bet Berkshire Hathaway would love to have GE Corp in their Grandscape portfolio of viable businesses who know NORTH TEXAS is the place to be!

Frisco Market Statistics – June 2015

Frisco Market Statistics – June 2015 

In the Frisco real estate market, conditions continue to favor sellers, even as more houses become available compared to his time last year. June 2015 found an increase in the number of new listings, active listings and pending listings for single-family homes, according to information from North Texas Real Estate Information Systems.

The 525 new listings in June 2015 represented a 4 percent increase over June 2014. Active listings increased 5 percent to 563 over the same period. Pending listings had a slight jump, with the 366 pending listings in June 2015, indicating a 3 percent increase over June 2014. Actual sales of single-family homes are flat over the same period.

The North Texas State Real Estate Information System reports that in June 2015, a total of 466 single homes were sold in the Frisco area. This represents a 0 percent increase over sales in June 2014.

Prices in the Frisco real estate market continued to climb during that year-long period. The median price of a single-family home in the Frisco area increased 11 percent between June 2014 and June 2015, to $349,900. Average home prices rose 11 percent during that period to $392,713. The dollar volume of sales during the year increased 11 percent. In total, $183,004,258 worth of homes were sold in June 2015.

Homes spend an average of 28 days on the market in Frisco, which is a decrease from the same as in June 2014. Generally high prices, limited availability, and quick sales of those homes that come up for sale make the Frisco real estate market a favorable environment for sellers.

Strong buyer demand has created multiple offers for sellers and low inventory is causing home prices to rise. It’s not uncommon for a seller to get 4 or 5 offers to chose from. Make your first offer the best in order to compete. Many first time home buyers have turned to renting and will wait until the market becomes more balanced. The influx of new companies and people to North Texas is creating unprecedented buyer demand.

See more Frisco Market Statistics Area 55 NTREIS MLS housing activity report here.

Smith & Smith Realty provides expert real estate services to residential buyers and sellers in Frisco and surrounding communities. Contact us today for more information on Frisco real estate and for professional assistance navigating this sometimes complex home market.


Jerry’s World Satellite Site to be in Frisco

Welcome to the Real Jerry’s World

Dallas Cowboys in Frisco

Evidently Jerry Jones has outgrown Valley View Ranch as the Cowboys recently announced that  Frisco would be the new home of the Cowboys World Headquarters and Training Facility.

The $115 million development will be located at the northwest corner of Gaylord Pkwy and the Dallas North Tollway just north of Hall Office Park and northwest of Stonebriar Mall on the east side of Gaylord Parkway from the COWBOYS facility when completed.

Dallas Cowboys long known as America’s Team will share their facilities with the Frisco Independent School District which will include a 12,000-seat indoor stadium and two outdoor fields.

Cowboy headquarters and practice facility will sit on 25 acres and will anchor a larger mixed-use development, which will include retail, restaurants, corporate offices and a luxury hotel.

The city-owned facility will cost a minimum $115 million with the Cowboys picking up anything above the $115 million for a “special” facility designed to stand the test of time.

Overall the development is a 91-acre tract development with the remaining 66 acres to encompass 1.2 million square feet of corporate office space, 400,000 square feet of retail and 51,000 square feet of restaurant space.  A luxury hotel with about 480 rooms is also planned for the site.

The project  is expected to have a $23.4 billion economic impact on the city of Frisco over the next 30 years, while bringing 4,500 new jobs and 1.26 billion in tax revenues to the city of Frisco.

Needless to say Frisco is excited to have the No. 1 sports franchise in the world located in their city limits.

But for those not familiar with Frisco the new Cowboys headquarters and training facilities are not the first development Jones has done in Frisco.  Jones’ real estate development firm Blue Star Land started in Frisco-Collin County in 1993 with the 550 acre upscale gated luxury home Starwood subdivision. 

As the story line goes in the link of the previous sentence the net worth of Jones’ Blue Star Land probably exceeds the value of his $1.2 billion AT&T stadium in Arlington.  And that’s Jerry’s World!

Toyota stadium name deal with FC Dallas team

FC Stadium is Now: Toyota Stadium and Toyota Soccer Center

Frisco Toyota Stadium & Soccer Center

Formerly known as FC Dallas Stadium is now Toyota Stadium and Toyota Soccer Center.  Earlier this month TOYOTA signed on with FC Dallas for the naming rights to the stadium formerly known as FC Dallas Stadium.  This is  the third stadium sponsorship Toyota has entered.  Toyota plans to be involved long term and will be the exclusive automotive sponsor for the FC league as Volkswagen serves as the sponsor for Major League Soccer.

Toyota was drawn  to Frisco’s growing population and demographics, which is one of the Top 10 fastest growing cities in America.  FC Dallas indicated besides the Toyota Stadium signage, the stadium will name the northeast plaza terrace box after Toyota.  Toyota Stadium has seating for 20,500 people and 17 tournament fields occupying 45 acres.

This facility is awesome!  If you haven’t been to an event put it on your MUST DO list.   If you want to live in Frisco and you’re looking for condos & townhomes around Toyota Stadium, try this custom Frisco MLS link for all active listings.