Frisco Adopts Fields West Incentives

Fields West is closer to becoming a reality in north Frisco.

The Frisco City Council voted unanimously to approve a development agreement for Fields West, a significant step to help advance the city’s strategic vision for the northern region of Frisco. The agreement will offer the developer $94 million in incentive grants if it reaches certain development milestones.

This agreement marks the beginning of a $660 million master-planned, mixed-use project designed to transform the city’s northern quadrant.

The developer, Fehmi Karahan, has committed to the terms of the deal. He needs to obtain construction financing and commence construction between 2024 and 2026, complete public parking facilities by December 2027, and construct significant components such as water features, 320,000 square feet of Class A office space, 350,000 square feet of upscale retail space, and 1,100 urban multifamily units by August 2028. The upscale retail space must also be substantially leased by this deadline.