First crane is flying for Frisco’s $1.6 billion Wade Park project

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The first construction crane has gone up for the $1.6 billion Wade Park project in Frisco.

Located on the Dallas North Tollway at Lebanon Road, the 175-acre mixed-use development is part of Frisco’s so-called $5 billion mile.

Construction crews are busy excavating the development site on the east side of the tollway.

Wade Park developer Thomas Land & Development recently filed plans with Frisco for the 16-acre tract being excavated.

The detailed development plan includes sites for two 16-story office buildings and a 33-story hotel fronting on the tollway.

To the east of the three towers there are two, 3-story retail and office buildings, a theater and four small retail buildings.

A spokesman for Wade Park said that the development plans filed with Frisco are for the first phase and part of the second phase of Wade Park.

The hotel is to be operated by Langham Hotels & Resorts.

A Whole Foods Market grocery store and an IPic Theater are part of the development plan.

Atlanta‐based Wakefield Beasley & Associates and Dallas’ 5G Studios are architects for Wade Park.

Balfour Beatty is the general contractor.

In November, the Wade Park project received a $42 million loan, Collin County deed records show.

The debt was provided by a company affiliated with Eyemart Express founder Doug Barnes. Barnes in 1990 founded what is one of the country’s fastest growing optical retailers.