Karahan Companies Secures $425 Million Loan for Fields West

Fields West is ready to rise, nearly seven years after the Frisco megadevelopment was first announced.

The $2 billion commercial core of the 55-acre development landed a $425 million construction loan from Bank of America, JPMorgan Chase and Prosperity Bank, the Dallas Business Journal reported. Developers Hunt Realty, The Karahan Companies, Chief Partners and Cross Tie Capital plan to deliver the first phase by the third quarter of 2027.

The City of Frisco is also backing the project, one of North Texas’ most ambitious developments, with $70 million in municipal bonds issued June 27, about a year after putting nearly $100M in tax breaks on the table. Construction on the project is slated to begin this fall. 

The loan clears a major hurdle for the project, set to include 350,000 square feet of retail, dining and entertainment and 325,000 square feet of office space across multiple towers. 

Pre-leasing momentum is strong. Roughly 70 percent of the retail space was claimed before construction financing closed. Tenants include Bloomies, Alo Yoga, Arhaus, Mastro’s Steakhouse, Kendra Scott and Sixty Vines. Dallas-based agency Shop Companies is leading retail leasing; CBRE is handling office.

Fields West anchors the 2,500-acre Fields master plan, a $10 billion project already home to the PGA of America headquarters and the $520 million Omni PGA Resort, with a $550 million Universal Kids Resort under construction nearby.

Infrastructure work began last year. The mixed-use campus is being designed by Gensler, with plans to deliver high-end streetscapes, ground-floor activation and a retail-first layout modeled after Karahan’s playbook at Legacy West in Plano.

Karahan has said Fields West will be his final large-scale development in North Texas. Once complete, the project is expected to cement Frisco’s Panther Creek corridor as the region’s next high-density commercial hub.

— Judah Duke

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