Construction to begin on medical office building on Wade Park grounds in Frisco

Frisco’s long-sluggish Wade Park development will soon reopen with new construction.

Work on the $2 billion mixed-use project on the Dallas North Toll Road was halted more than five years ago.

Since then, the 175-acre site has been abandoned with a partially completed building and a huge water-filled excavation.

New York-based JVP Management took over the strategic property after the financier took control of the property in 2019.

Late last year, the real estate company renamed Wade Park “The Mix,” offering 3 million square feet of residential housing, nearly 2 million square feet of office space, 375,000 square feet of retail and two retail properties. announced plans to build a hotel.

As part of the project, construction will begin next month on a five-story medical office building. Planning documents filed with the state show that the $24.4 million building will be built on Lebanon Road and Parkwood Boulevard.

The Dallas office of architects CallisonRTKL Inc. is designing the building, which is expected to open in mid-2024.

The medical office building project will also include a seven-story parking lot at a cost of $14.4 million, according to filings with the Texas Department of Licensing and Regulatory Affairs.

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The new plans for the medical office building follow a disclosure in March that JVP Management plans to complete an unfinished commercial building of approximately 80,000 square feet on the southeast corner of Dallas Parkway and Lebanon Road. Announced.

The $17.7 million construction work will include “development of a grocery store and retail center,” according to the report.

JVP Management is a private real estate investment firm with offices in New York and Connecticut.

The real estate investor and developer has partnered with Wade Park financier Gamma Real Estate on projects such as Manhattan towers.

Gamma Real Estate provided more than $80 million in loans for the construction of Wade Park and foreclosed on the property following its default.

Construction on Wade Park first began in 2014, with plans for high-rise offices, hotels and apartments.

The Wade Park grounds are across the toll road from several successful Frisco projects including the Dallas Cowboys Star, Frisco Station and The Gate.

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