An artistic depiction of the Fields West mixed-use development, showcasing its potential retail and dining spaces.
Fields West, a 55-acre mixed-use project in Frisco, Texas, has secured a $425 million construction loan. The funding, facilitated by Hunt Realty Investments and The Karahan Cos., will contribute to a project estimated at $2 billion. With plans for 350,000 square feet of retail and dining space as well as offices, Fields West aims to become a vibrant community hub, supporting significant local economic growth. Various notable brands are set to occupy the space, with a projected opening for components by 2028.
A significant milestone has been reached with the Fields West development project in Frisco, which has successfully secured a $425 million construction loan. This funding is a collaborative effort between Hunt Realty Investments and The Karahan Cos., bolstered by a consortium of banks including Bank of America, J.P. Morgan Chase, and Prosperity Bank.
The City of Frisco played a role in the financing process by selling $70 million in municipal bonds, further demonstrating the local government’s commitment to supporting this large-scale project. Announced in 2022, Fields West is set to be a 55-acre mixed-use development that is part of a more extensive 2,500-acre master-planned community known as Fields, emphasizing a blend of residential, commercial, and recreational spaces.
The projected total cost for the Fields West development is estimated at $2 billion. This comprehensive venture will encompass 350,000 square feet dedicated to shopping, dining, and entertainment, complemented by 325,000 square feet of premium Class A office space. The architectural vision for this project is being crafted by Gensler, a renown firm recognized for its innovative designs.
As of now, construction for the retail, restaurant, and entertainment areas is actively underway. Initial phases of the project are expected to commence operations between the third quarter of 2027 and into 2028. Encouragingly, around 70% of the commercial space has already been preleased to a mix of both national brands and boutique retailers, indicating strong market interest.
The tenant lineup includes well-known brands such as Bloomie’s, which is a concept associated with Bloomingdale’s, as well as Alo Yoga, Kendra Scott, Pottery Barn, Sephora, and Williams Sonoma. Dining options will feature diverse offerings, including Green Point, Claremont, Mexican Sugar, Sixty Vines, and Tommy Bahama Marlin Bar. Additionally, Fields West will see the introduction of Mastro’s Steakhouse, marking its first presence in the Dallas-Fort Worth area.
SHOP Cos. has been engaged to manage the leasing of the retail component, while CBRE will handle leasing for the office spaces. These collaborative efforts are expected to attract a variety of tenants, enhancing the overall appeal of the Fields West project.
In concert with the ongoing development, a partnership with Trammell Crow Co. aims to attract corporate clients for potential office expansion on an additional 47 acres included in the development site, although this aspect is still under negotiation.
Once fully operational, Fields West is predicted to generate over $400 million in annual sales and purchases, thereby making a substantial contribution to the local economy and positioning Frisco as a vibrant hub for commerce and community engagement.
While the current financing does not cover two proposed hotels on the property, the plans for these facilities are still in the works, indicating further evolution of the Fields West area. With Hunt Realty Investments’ extensive experience in real estate development and The Karahan Cos.’ past successes, including the notable Legacy West project in Plano, Fields West is shaping up to be a transformative development for the Frisco area.
As construction progresses, the partnership between the developers and the city is seen as crucial for achieving the overarching vision of creating a thriving, mixed-use community in Frisco.
News Summary Cronheim Hotel Capital has secured $39 million in construction financing for the AC…
News Summary JLL Capital Markets has arranged $29.5 million in construction financing for the Soho…
News Summary The Fields West mixed-use development project in Frisco, Texas has secured $425 million…
News Summary NuRock Companies has secured $38.7 million to develop the Residences at Beverly Park,…
News Summary WSFS Financial Corporation, the oldest bank in the U.S., is preparing to announce…
News Summary Leica Geosystems has introduced Xsight360, an innovative AI-driven safety system designed to enhance…