A bank with a major Fort Worth presence is funding the infrastructure construction on the 242-acre Frisco Station development on the Dallas North Tollway.
Tyler-based Southside Bank will provide the Frisco Station Partnership, composed of Hillwood, Rudman Partnership and Van Trust Real Estate, with a three-year revolving line of credit for constructing road, water, sewer, and other utilities.
Initial construction will begin in June and will include infrastructure to support office development along Warren Parkway, as well as extend to the core of Frisco Station to support planned urban living, retail, and hospitality projects.
“Frisco Station is a marquee project in one of the fastest growing areas in the region,” said Tim Carter, North Texas regional president of Southside Bank. “We’ve had a great relationship with Hillwood over the years and are pleased to be part of such a prominent project that will change Frisco’s landscape. The presence of Toyota, Liberty Mutual and other major corporations within the Collin County portion of the North Texas region is spurring unprecedented growth in Frisco, and Southside Bank is proactively seeking opportunities to facilitate new projects that will further support the city’s economic expansion.”
Frisco Station is a 242-acre mixed-use development in Frisco, located to the west of the Dallas North Tollway and to the north of Warren Parkway surrounding the new Dallas Cowboys Star development and world headquarters complex. Frisco Station will feature fully amenitized office, residential, retail, restaurant and medical uses.
“The financing by Southside Bank is a major step forward in our efforts to turn our vision for Frisco Station into reality,” said Mike Berry, president of Hillwood. “Through this partnership, we will lay the foundation for an entirely new master-planned concept that focuses on healthy, smart and creative design principles. Frisco Station will be much more than just a place to live, work and shop. We are establishing a unique community and business park with a full range of amenities for every stage of life, and for every lifestyle.”
Frisco Station will be an innovative corporate, retail and medical destination in Frisco, featuring modern amenities, technological connectivity and flexible workspaces within a vibrant economic climate.
Southside Bank has $5.2 billion in assets and currently operates more than 60 banking facilities in east, north and central Texas. The financial institution previously worked with Hillwood to finance the grocery-anchored Heritage Marketplace retail development and the Marriott Hotel, which are both located at Alliance Town Center in north Fort Worth.