These days you can’t throw a rock without hitting a large-scale mixed-use development in Frisco, and another is getting shovel-ready.
David Weinreb’s Weinreb Ventures is moving forward with the multifamily component of its Frisco megadevelopment, according to a filing with the state. The firm is expected to start construction on the Ardea at Grand Place in September and deliver it by December 2027.
The five-story, 270,000-square-foot project will have 301 units. It’s estimated to cost $97.5 million, or about $324,000 per unit.
Weinreb Ventures filed the plans, but it’s been previously reported that Zarky Development, an affiliate of Weinreb’s TPMC Realty, is spearheading the development.
This building is part of the first phase of a development that will take shape at the corner of Main Street and Dallas Parkway. The first phase consists of three buildings totalling 1,039 apartments. This building and another will be primarily dedicated to residential, while a third will be mixed-use.
A “halo effect” of development was spurred by the $520 million Omni PGA Resort that opened in 2023. That 660-acre development jumpstarted development in North Frisco to the extent that it “will develop 20 years faster than it otherwise would have,” Frisco Mayor Jeff Chaney said last year.
Frisco’s development pipeline also includes the Universal Kids Resort theme Park, which is expected to open in 2026, and Firefly Park, a 217-acre project from Wilks Development that’s expected to cost between $2.5 and $4 billion. Weinreb is the co-founder and former CEO of the Howard Hughes Corporation. He was appointed chair of London-based developer Dar Global in October.
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