Wilks Development and Frisco EDC Announce Partnership for Firefly Park

The 242-acre Frisco development will break ground in April 2024.

FRISCO, Texas, April 25, 2024 /PRNewswire/ -- Wilks Development and Frisco Economic Development Corporation (Frisco EDC) signed a development agreement that launches Phase One of construction and development for Firefly Park. The project is a 242-acre mixed-use, master-planned development including 159 acres owned by Wilks Development and 59 acres owned by Frisco EDC.

Firefly Park is located at the intersection of US 380 and Dallas North Tollway along PGA Parkway, one of the most prominent gateways to the neighboring PGA of America Headquarters and Omni PGA Frisco Resort. The development will ultimately feature 3 million square feet of Class A office space, 400,000 square feet of upscale retail, dining, and entertainment, along with 1,200 hotel rooms, 230 townhomes, 1,970 mid-rise and high-rise residential units, plus many other world-class amenities. The heart of the development will be a 45-acre signature park and open space featuring a chain of lakes, an illuminated and immersive outdoor art walk, miles of hike and bike trails, fountain views, and family-friendly playgrounds. The development expects to attract tourists and residents with an aesthetic wedding chapel, event lawn, and amphitheater that will be fully programmed and activated throughout the year. Together these amenities will create a highly attractive and functional lifestyle and recreation destination for visitors, tenants, and residents in Frisco.

The Frisco EDC and Frisco North Development LLC, a subsidiary of Wilks Development, will collaborate to construct the initial phase of public infrastructure, including streets and roads, medians, driveways, turn lanes, fire lanes, water lines, wastewater mains, drainage, electric utilities, gas utilities, and telecom/fiber networks. Upon completion, Mahard Parkway will be built out to a divided four-lane boulevard that connects PGA Parkway to US 380. In addition, a new bridge for pedestrians, cyclists, and vehicles will be constructed across a lake and open space along Shearwater Boulevard, creating stunning views for users. The first phase of the development agreement requires the construction of the Dream Hotel, 650,000 square feet of Class A office, upscale dining and shopping, and the 45-acre park.

"Firefly Park is part of the 'PGA halo effect' accelerating development in north Frisco," said Frisco EDC President Jason Ford. "The infrastructure partnership creates ready-to-build sites to help attract major headquarters to Frisco. There is a high demand for more walkable, mixed-use environments with a blend of premier corporate and lifestyle facilities ? Firefly Park will offer exactly that. The immersive art walkway will make it unique from every other mixed-use development in North Texas."

"When Wilks Development purchased this land back in 2015, its plans were modest," said Mayor Jeff Cheney, City of Frisco. "Wilks upped its game when the PGA of America announced it was coming to Frisco. It's exciting to see the vision evolve into a world-class development. Firefly Park will be one of the premier destinations in North Texas."

"It's no secret why Frisco has been one of the fastest-growing cities in the U.S.," said President Kyle Wilks, Wilks Development. "It embodies everything we want in a community: one of the lowest tax rates in the region, leadership that's responsive to the businesses and residents, and an overall culture of success. We expect Firefly Park to continue the success and further stimulate the growth that began in Frisco several decades ago. We appreciate the Frisco EDC's partnership and commitment to bringing this project to life."

For more information about Firefly Park, please visit fireflypark.com or @fireflypark on Instagram and Facebook.

About Wilks Development
Wilks Development is an intentional and innovative real estate development and investment company. Since its founding in 2012, brothers Kyle and Josh Wilks, along with their cousin Jess Green, have built a diverse portfolio of real estate projects, including sturdy stone storefronts, Class-A commercial offices, thriving business parks, multi-family communities, and vibrant, walkable neighborhoods. For more information, please visit wilksdevelopment.com or their social media channels: LinkedIn: @wilksdevelopment, Facebook: @wilksdevelopment, Instagram: @wilksdevelopment

About the Frisco Economic Development Corporation
The Frisco Economic Development Corporation operates as a Texas non-profit corporation and is governed by a seven-member board of directors appointed by the Frisco, Texas City Council. Our mission is to create new jobs and improve the economic opportunities and quality of life for all Frisco residents. The Frisco EDC is one of the leading public economic development agencies in the State of Texas, closing $629 million in new development, and generating more than 7,200 Frisco-based jobs from multiple Fortune and tech headquarters relocations since early 2022. For more information, visit FriscoEDC.com.

Contact: Nicole Ellis, Wilks Development
Telephone: 817-720-0821 or 209-327-6343
Email: [email protected]

SOURCE Wilks Development