BY ALEX REECE
A new $113.43 million incentive agreement is paving the way for construction to resume at The Mix, a 112-acre mixed-use development east of the Dallas North Tollway between John Hickman Parkway and Lebanon Road. Frisco City Council members approved the incentive agreement during an Oct. 15 meeting. Plans include turning a seven-acre hole in the ground into a parking garage and providing upscale amenities, according to city documents. The gist Some residents know The Mix development as Wade Park, a long-since-abandoned mixed-use project at the same site, or as “the hole,” nick- named for the pit left behind after developers dug the beginnings of what would have been an underground parking garage for Wade Park. That parking garage project will now continue. A screening fence must be built around it sometime in the next six months and completely nished by 2033 for developers to receive the incentive agree- ment funds, according to meeting documents. The agreement will not a ect the property tax rate for residents or business owners, Assistant City Manager Rob Millar said. All incentive funds come from the tax revenue generated by The Mix’s construction. Breaking it down The incentive program covers the rst phase of Developers pledge to nish ‘hole on the tollway’
Plans for The Mix The incentive agreement approved Oct. 15 lays out the plans for The Mix’s construction through 2033.
LEBANON RD.
Phase 1 area
Amenities
Parking garage
2,250 -space underground parking garage
33,000 square feet of upscale retail and restaurant space 630 urban residential living or townhome units
14,000 square feet of Class A medical o ce space
The Mix
A Whole Foods Market or similar upscale grocer and open space with pedestrian areas
DNT TOLL
N
Project timeline
Dec. 31, 2026: Complete all phase 1 infrastructure Dec. 31, 2027: Open
Dec. 31, 2033: Complete the underground parking garage and Phase One open space
Dec. 31, 2028: Complete the medical o ce building
Dec. 31, 2030: Complete the residential units
the grocery store and 80% of retail
2033
2026
2027
2028
2029
2030
2031
2032
SOURCE: CITY OF FRISCO COMMUNITY IMPACT
$103.43 million in tax grants from the city, FEDC and FCDC. The grants are set to expire on Dec. 31, 2054 or once the developers receive the $103.43 million maximum, per meeting documents. Something to note The city had an incentive agreement in place when the land was still set to become Wade Park. It was that agreement that saved the city from having to pay anything to the developers when they backed out and left the hole behind, Cheney said. The new agreement is even stricter than it was for Wade Park, Cheney said.
what will be a multi-phase development project, according to a meeting presentation. The other members involved are: • The Mix Partners LLC • Frisco’s Economic Development Corporation • Frisco’s Community Development Corporation Board members from the FEDC and FCDC approved their sides of the incentive agreement during a special-called meeting earlier Oct. 15. The agreement, which will help fund certain aspects of the 112-acre development, included a $10 million infrastructure grant from the FEDC and
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