By Steve Brown, Dallas Morning News
Dallas property firm KDC joins Hunt Realty, Karahan Cos. and the rest of the developers of the more than 2,000-acre mixed-use community.
Part of the team that built the wildly successful Legacy West project in Plano is getting together to work on the next big development deal in Frisco.
Legacy West developer Fehmi Karahan was already part of the group planning the 2,000-acre Fields project.
The Frisco mega development is being built with Hunt Realty, Karahan Cos., Republic Property Group, Chief Partners LP and CrossTie Capital Ltd. and could be valued more than $10 billion.
Now Dallas-based developer KDC is joining the effort to create the huge commercial and residential community on the Dallas North Tollway.
KDC built Legacy West’s office campuses for Toyota, Liberty Mutual Insurance and JPMorgan Chase.
“Last week I signed an agreement with KDC to join our team,” Karahan said. “Commercial, office and build-to-suit — they will work on all those opportunities with us.”
The development is being planned to include more than 10,000 homes and up to 18 million square feet of commercial space.
An almost 500-acre section of the project was sold for the PGA of America’s new headquarters, two golf courses and an Omni resort hotel.
At the heart of the Fields project along the Dallas North Tollway, the developers plan to build a large commercial district. Another commercial area would be built to the north on U.S. Highway 380.
“We got our zoning approved in March of this year right before the pandemic,” Karahan said. “I am currently working with the city of Frisco to look at the entire infrastructure needs.”
Karahan said he expects construction on the first residential neighborhoods at Fields to start next year.
KDC is one of the most successful commercial developers in North Texas, having built corporate facilities for companies including State Farm Insurance, Pioneer Natural Resources and Baylor Scott & White.
KDC president Toby Grove says the Fields development will be the next major corporate destination in North Texas.
“We think it’s a tremendous opportunity and a great piece of property,” Grove said. “We are looking at the overall master planning and providing input for the corporate users.”
Grove said the ownership of the Fields property insures it will be developed to high standards over time.
“We think it will allow for the best potential development possible,” he said. “We think it’s a huge opportunity for KDC.”
The Fields project got its start in 2018 when developers purchased the Headquarters Ranch from the estate of businessman Bert Fields Jr.
The sprawling ranch property stretches from Preston Road west past the Dallas North Tollway and all the way north to U.S. 380.
At the time of the sale, it was the largest undeveloped property in Frisco.
PGA of America is already building its two golf courses on the property.
And construction just started on a headquarters office for the sports organization that is moving from Florida to Frisco.
Link to Dallas Morning News here.