The development of Fields West in north Frisco is one step closer to becoming a reality. The Frisco City Council unanimously approved a development agreement for the project, which aligns with the city’s strategic vision for its northern region. This $660 million master-planned, mixed-use project has been designed to revitalize this area.
Fehmi Karahan, the developer behind Fields West, has agreed to the terms of this deal. In exchange for reaching certain milestones in development, he will receive $94 million in incentive grants from the city. These milestones include obtaining construction financing and beginning construction between 2024 and 2026; completing public parking facilities by December 2027; and constructing key components such as water features, Class A office space totaling 320,000 square feet , upscale retail space spanning over3500 square feet ,and urban multifamily units numbering at least1,,100 by August 2028 . Furthermore,the upscale retail space must be substantially leased by this deadline.
This recent decision made by Frisco marks an important milestone towards bringing Fields West to life without mentioning any specific names or organizations associated with it.. It demonstrates their commitment towards revitalizing their northern quadrant through strategic partnerships like these incentives agreements.
