The City of Frisco is taking a first step to form a public-private partnership with the goal of developing a performing arts center. Last evening, June 1st, the Frisco City Council voted unanimously to enter into a master development agreement (MDA) with Frisco’s Community and Economic Development Corporations; Hall Park and the Frisco Independent School District (FISD) to construct a center on five acres at Hall Park.
We’re very excited about the possibilities,” said Mayor Jeff Cheney. “This is something our community has been dreaming about for years. Frisco is known for its innovative public-private partnership model used to develop thriving sports and entertainment venues; however, there’s growing need for greater investment in the arts. We recognize many of our artists host audiences outside of our community. We hope our arts enthusiasts are encouraged and hopeful, given tonight’s council action.”
As initially proposed, the performing arts center would include a main performance hall with at least 1,250 seats; a smaller venue with at least 250 seats; a multi-story, parking garage with 1,100 spaces and a five-acre park, which would provide open space and a children’s playground.
The estimated, total cost of the project is $129 million, which includes $104 million in public funds and $25 million from Hall Park. The private investment does not include the land value of 10 acres provided by Hall Park for constructing the performing arts center, parking garage and the park.
The Frisco Arts Foundation is committed to raising significant private donations to embrace the future of the arts and build for tomorrow,” said Tammy Meinershagen, Chair of the Board, Frisco Arts Foundation. “We look forward to making the Frisco performing arts center one of the most innovative, collaborative spaces for the arts post-COVID. One thing we know about Frisco… If we can dream it, we can do it!”
The Frisco Economic Development Corporation (FEDC), through a separate performance agreement, plans to provide $5 million in combined infrastructure and grants to support redevelopment of Hall Park. Such improvements would include redeveloping a 15-story AAA office building to include two hotels and a parking garage. Other improvements involve erecting a luxury, residential high-rise with 214 units.
This is an exciting first step,” said Ron Patterson, Assistant City Manager. “Tonight’s action is an outline for where we’re headed on this project. We have a history of working with these partners, public and private, and collaborating is something we do well.”
The MDA requires approval from the other public boards, namely the Frisco Community Development Corporation, the FEDC and the Frisco Independent School District. If approved, the design process for the performing arts center is scheduled to begin in January 2022.