Frisco 5 billion dollar mile (Dallas, Fort Worth: home, neighborhoods, tenants)

[Jeohnny]

With all of the development thats happening in the 5 billion dollar mile ,do you think frisco will become the entertainment hub of the metroplex when all of the projects are finished ?

[DTXman34]

I doubt it will ever be the "main" hub of the Metroplex. Many people in central Dallas could careless about what happens in Frisco and will continue to spend their money on entertainment in the Downtown area. Same could be said about Fort Worth. I do see it becoming one of many smaller entertainment hubs though in addition to Arlington. Just not the main one. This area is too sprawling and diverse for that.

[TotallyTexasBound]

LOL - no, just look at the demographics. Frisco is the new Mesquite.

[debragga]

Originally Posted by TotallyTexasBound

LOL - no, just look at the demographics. Frisco is the new Mesquite.

How so? Could you elaborate?

[serger]

I don't know if it will become the entertainment hub but the congestion hub it might. It is fighting for the latter with plano as hard as it can.

[TotallyTexasBound]

Originally Posted by debragga

How so? Could you elaborate?

Sure - I don't exactly understand why having the Dallas Cowboys practice facility is going to be a generator of economic growth. I realize they are building a lot of office space in the 5 billion mile - but have they signed any major corporate tenants? Compare this to Plano where they have many major developments not being driven on speculation - makes it much easier for retail & entertainment to make follow-on investment decisions. I find it interesting that on local radio you hear advertisements for the 5 billion mile and the Dallas Cowboys practice facility - it seems like a pretty feeble attempt to draw up interest. (Here is a list of Frisco corporate presence: Corporate Presence | Frisco Economic Development Corporation)

And, while this also impacts Plano, Frisco is only accessible via toll roads - nobody from outside of the general area is going to travel frequently up the toll roads for entertainment that they can find likely closer to home, or at the Shops of Legacy or Legacy West. These developments need to have a substantial daytime population as well - it's hard to draw successful businesses which may only have traffic a few hours each evening. A lot of the better restaurants would rather locate where they can capture some business lunch traffic.

In addition, Frisco has some antiquated liquor laws - I believe they require 50%+ of an entities revenue to come from something other than alcohol, which would also limit the development of an entertainment district.

Finally, the demographics of the area (a lot of middle income families) don't really seem to match up with an area that could support a diverse entertainment district. Frisco is a great place to raise a family (if you can look past the mediocre and soon-to-be underfunded schools) and will boom along with Plano, however as I see it they will always get Plano's leftovers.

[Jeohnny]

That makes sense

[TheOverdog]

And, while this also impacts Plano, Frisco is only accessible via toll roads - nobody from outside of the general area is going to travel frequently up the toll roads for entertainment that they can find likely closer to home, or at the Shops of Legacy or Legacy West.

The area you describe (Frisco $5b mile) vs Legacy West or Shops at Legacy are like 1 tollbooth apart. Nobody is going to go that far and decide that they aren't paying an extra $1.25 in tolls. I don't think Frisco is going for 'primary entertainment hub', but with indoor skydiving, minor league baseball (which is where injured Rangers play before they are called up) and Major League Soccer (outdrawing vs when it was in Dallas Cotton Bowl but experienced a drop in attendance this year after several years of increasing attendance). The 'entertainment' aspect will draw people from the northern suburbs and will probably never be clubs and bars (Plano/McKinney/Allen/Irving/etc) mostly sucks in that regard as well) but Frisco is going to be its own thing.

Frisco is also building residences around its soccer and baseball stadium (a novel idea that Arlington hasn't figured out yet and Dallas only for hockey/basketball stadium and only recently) so there will be a large enough local draw without having to rely on travelers.

The retail area around Stonebridge Mall also dominates the area around either Plano mall, so I think Frisco knows something about 'entertainment', though I agree that that stuff is more middle class and more variable, and most will also be built in some decent part of Dallas or elsewhere in the metro.

Also don't forget that Plano is offering pretty significant subsidies to all these companies to locate, and Frisco and other places like The Colony will also benefit because they are very close by to all the stuff being built in Plano - closer than most of the residents in the actual city of Plano, and will get the benefits of the workers and commuter residents without paying the subsidies.

[Johnhw2]

I see the synergy between Frisco's 5 Billion dollar mile area, Legacy areas (the new and older one) as well as the Grandscape project around Nebraska Furniture Mart will produce a nice entertainment area. Not Grandscape is less than one toll both from Legacy areas in Plano. Definitely will make the locals stay in this area more when looking to go out to a bar, dinner or other entertainment venues.

Dallas proper residents wont drive to the suburbs for these things, they prefer to drink, and dine near home as do we in the northern tier area seeing these developments go up. They wont be impacted as most wont leave their inner city neighborhoods. The job adds in Legacy and along the stretch in Frisco will cause the entertainment in this area thrive without Dallas money being spent in this area..

[octo]

The only reason why I as a Dallas resident drive up there is if I want something cheap from IKEA.

That awful mall (Stonebriar? Or what's the name?) is basically the Frisco version of Town East in Mesquite, 2 decades fresher. It'll have the same trajectory (slow decay).