Planned redevelopment will expand Frisco’s Hall Park to more than $2 billion – The Dallas Morning News

Frisco is getting a more detailed look at redevelopment plans for its largest office park.

Early this year, developers of the 162-acre Hall Park at the Dallas North Tollway and Gaylord Park got city approval to convert the almost quarter-century-old office park into a mixed-use development.

With more than 2 million square feet of offices, the campus of low- and high-rise buildings houses almost 10,000 workers.

Proposed additions include 10 new high-rises and a large performance hall.

Developer Hall Group got the OK from the city in January to add residential, retail, entertainment and public facilities to make the successful office park into a 24-hour mixed-use community.

The Frisco City Council is considering a proposal this week to help fund some of the proposed improvements with revenue from taxes the development generates.

Hall Park is valued at about $633 million. Over the next 20 to 30 years, high-rise building additions would expand the value of the development to more than $2.2 billion, according to the city.

Redevelopment has already started to occur as two buildings were demolished earlier in the year, making room for a new high-rise building, the open space plaza and structured parking, according to filings with Friscos planning department.

Hall Group tore down two three-story office buildings at the corner of Warren and Gaylord parkways, across the street from the Dallas Cowboys Star in Frisco development.

In their place, the developer plans to build the first phase, which includes a 27-story residential tower with more than 300 units, a 49,000-square-foot food hall and parking garages. The second phase would include a 36-story residential tower and 520,000 square feet of office space in a more than 20-story building.

More office towers and additional residential high-rises are planned in the next phases. Hall Group has previously said the residential towers would house rental units and luxury condominiums.

A 1,500-seat performance hall with an adjoining parking garage are also planned in the redevelopment of Hall Park.

The new buildings would line a new public park and green space with walking trails, plazas and waterways running south from Warren Parkway, according to plans filed with the city.

The first phase of the redevelopment including a new parking garage, the public plazas and park and improved infrastructure will cost more than $50 million and would be paid for by a combination of funds from the developer and a share of property and sales taxes generated by Hall Park.

The city if the council agrees would use a tax increment reinvestment zone to fund its share of the expenses.

The parking structure will support the office buildings Monday-Friday 8:00 to 5:00 and will be open to the public the rest of the time, the city filings said.

A more than 1,000-acre parking garage would cost $20 million and would be owned by the city to support the new performing arts center.

The open space and public plaza additions will cost $30 million with the developer contributing $15 million of the construction costs.

Developer Craig Hall bought the land for Hall Park about three decades ago before there were even roads built to the property.

Since then, the area along the tollway north of State Highway 121 has been developed with billions of dollars of new commercial and residential construction.

Hall Group and city officials who approved redevelopment plans for Hall Park have said that adding new uses to the project will allow the city to continue to attract employers and residents to the area.

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Planned redevelopment will expand Frisco's Hall Park to more than $2 billion - The Dallas Morning News