Frisco Edition - May 2020

FRISCO EDITION

VOLUME 7, ISSUE 10  MAY 8JUNE 4, 2020

ONLINE AT

CORONAVIRUS COVERAGE

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Major real estate projects well-positioned for future

TOLL ON TOUR I SM

With stay-at-home orders in April, most regular events were canceled or postponed. Restaurants and retail also saw restrictions. But the large number of day-trippers to Frisco oers some hope for recovery, city leaders said.

GAYLORD PKWY.

Construction presses forward

73% of visitors were day-trippers. In 2018, Frisco had 6.6 MILLION visitors.

BY ELIZABETH UCLÉS

While the coronavirus has shut down hundreds of Frisco businesses and has left even more people out of work, construction on many of the city’s biggest developments is moving forward with few delays. But Craig Hall, industry expert and Hall Group founder, said the real estate market is in for a period of hardship as a result of the coronavirus. Hall, who started his 162-acre, 17-building oce park in Frisco in 1997, said his planned redevelop- ment for the oce park is being temporarily paused. “Just overnight, we have had less demand for real estate,” he said during a virtual Dallas town hall. “It won’t be that we turn the switch at the end of the period where we stay at home, and everything’s back to normal. I think that it’s actually going to take CONTINUED ON 20

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Top destinations for hotel visitors: • Stonebriar Centre • Frisco Square • Old Downtown Frisco

HOTELS

First week of March Frisco had 21 hotels open.

Second full week of April

Frisco had 15 hotels open.

$141 average nightly rate 67% average occupancy rate

9% average occupancy rate $83 average nightly rate

vs

The newly built Hyatt Regency Frisco plans to open June 1.

Normal occupancy rate for this time of year would be 69%

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SURE, IT DOES. BUT WE’RE COMMITTED TOGETTING THESE PROJECTS DONE. DOES THIS HIT US HARD?

SOURCE: VISIT FRISCOCOMMUNITY IMPACT NEWSPAPER

ELIZABETH UCLÉSCOMMUNITY IMPACT NEWSPAPER

Hotels, visitor spots take ‘devastating’ hit Instead of seeing crowds cheering on their favor- ite players and the excitement around game day, Toyota Stadium and Dr Pepper Ballpark sat empty in April. So did many of the hotel rooms visiting fans and teams would have lled. Local attractions, such as the National Soccer Hall of Fame and area museums, closed for weeks to help slow the spread of the coronavirus. Restaurants, retail and other businesses also saw a dramatic decline in sales as they shifted to take- out and delivery or closed their doors. Frisco Chamber of Commerce President and CEO Tony Felker said the pandemic has been devastat- ing to the city’s tourism industry. CONTINUED ON 18 BY WILLIAM C. WADSACK

DONNY CHURCHMAN, NACK DEVELOPMENT PRESIDENT AND OWNER

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ELIZABETH UCLÉSCOMMUNITY IMPACT NEWSPAPER

GROCERY GGUUIIDDEE

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Wedding industry at a standstill

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