Huge development planned for 400 more acres in Frisco

by PegNews wire

Frisco residents who are unhappy with having to drive several blocks to a shopping mall can now rejoice.

FRISCO — General Growth Properties, Inc. and Forest City Enterprises, Inc. today announced a partnership to develop a master plan for approximately 400 acres southwest of the Dallas North Tollway-U.S. 380 interchange. The development will include shopping, residential, hotel and office.

Under the master plan, Forest City Enterprises and GGP will develop a regional open-air commercial and residential center around a waterfront town square park. The shopping center will be approximately 1.5 million square feet with anchor stores, fine dining, entertainment venues, hotel, conference center and a pedestrian-friendly main street lined with specialty stores on the first floor and residences above.

“Developing projects that provide the greatest economic and social value to the communities they serve is consistent with the core values of our company,” said James A. Ratner, chairman and chief executive officer of Forest City Commercial Group. “Partnering with GGP on this development is a win-win for everyone.”

GGP owns and manages Stonebriar Centre located in Frisco, a 1.6-million-square-foot, regional enclosed shopping center, as well as approximately 20 other shopping centers in Texas. Forest City is currently developing three additional Texas properties – in Mansfield, Dallas and Prosper.

Source: Forest City

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