$1B Mixed-Use Frisco Project To Include Medical, Wellness Uses

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Frisco City Council voted unanimously May 18 to approve a rezoning request that paves the way for a $1 billion mixed-use development east of the PGA Frisco project.

This rendering shows The Link, a nearly 240-acre mixed-use development planned in Frisco. (Rendering Courtesy: City Of Frisco)

The Link is estimated to generate $7 million a year in property tax revenue and $3 million a year in sales tax revenue once fully built out. The 2 million to 2.5 million square feet of office space would attract between 8,000 and 10,000 jobs, according to project estimates. And an untold number of other jobs would be created at the site for the restaurant, retail, hospitality, wellness, medical and entertainment uses planned there.

 “This project checks a lot of the boxes for Frisco,” said Council Member Will Sowell said. “Who wouldn’t want this development in their city?”

This map shows the location of The Link mixed-use development south of US 380 along Legacy Drive. (Courtes: City Of Frisco)

“The developers took an odd-shaped plot of land with a flood plain in the middle of it and created what is expected to be a world-class project,” said Mayor Jeff Cheney. “We’re sitting here today talking about potentially building a $1 billion development because of the halo effect of the PGA.”

The May 18 vote was the third time that the nearly 240-acre project had come before City Council. In two previous meetings, the project was tabled after some council members expressed concerns with density and the timing of the trail construction.

Frisco Development Services Director John Lettelleir presents plans for The Link to the Frisco City Council on May 18. (Screenshot Courtesy: City Of Frisco)

The approved plan has 150 fewer residential units than the original request. The plan allows for up to 2,206 multifamily units, at least 500 of which must use concrete and steel construction. The revisions also allow for up to 500 single-family and cottage homes.

In addition, the developers agreed to construct the 3.5-mile hike and bike trail during the first phase of construction. The trail must be completed before the first certificate of occupancy is issued.

Project representative Clay Roby called the trail “the heartbeat of the development” that will connect The Link to the resort-style development that will be the new home of the PGA.

“We’ve created … a large pedestrian promenade that goes through the center of the development, ensuring that it’s a very walkable mixed-use property,” said Roby, a managing director at Stillwater Capital.

“A lot of work went into the final plans for The Link,” said Council Member Shona Huffman. “We can’t let down our guard. We still have to push for better. And that’s what we did here tonight. I really do appreciate that the developer worked really hard with us to get better.”

“The council took a long-range view of the community in approving a project that will affect generations to come,” said Cheney. “This is a project we should be celebrating. This should be an exciting day in Frisco’s history.”

 

Source: Community Impact

Lawmakers Make Expanding Or Opening New Hospitals In Tennessee Easier, Partly After Pleas From Rural Communities

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Opening or expanding a new hospital in Tennessee just got a bit easier.

State law requires health systems to prove their new facilities are needed, but lawmakers updated those rules, in part because of hospital closures in rural communities.

Unlike many businesses, reviving a hospital is a big bureaucratic lift. And obtaining what’s called a “certificate of need” from the state is one of the hassles. Sen. Page Walley, R-Bolivar, has several hospitals in his West Tennessee district that have been unable to reopen.

“This is going to relieve one of those impediments,” Walley said during the vote this week on final passage. “They are not going to have to go through that multi-month or even year process.”

The new law passed by the legislature, Senate Bill 1281, exempts the state’s most distressed counties from the certificate of need program.

Otherwise, the legislation — which took several years of negotiating with interested parties — is intended to streamline and modernize the process. It consolidates two oversight bodies and makes some attempts at updating rules to reflect the state of modern medicine, such as how to handle outpatient addiction treatment.

There have been efforts to do away with certificates of need, which don’t exist in Texas and 11 other states. The process has often been accused of stifling competition. Especially as more health systems try to build free-standing emergency departments, certificate of need laws have prevented some expansions in the Nashville area.

But Tennessee will continue to require hospitals, nursing homes and even hospice agencies to show there’s a need for their services in the area and to allow competitors to object.

 

Source: 91.3fm wkms

Healthcare Industry Driving Demand At 3D Systems Technology Center In Southwest Denver

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Bartell and Company Real Estate, a professional real estate services firm, has successfully leased-up two buildings at the 3D Systems Technology Center in Southwest Denver.

The announcement comes upon the completion of construction of a third, 50,000-rentable-square-foot building, which is now ready for occupancy. Planned and conceptualized by Denver-based design/build company The Ojala Group, an additional 250,000 rentable square feet of space is already planned to be built as a medical device, healthcare, engineering and financial campus. Future expansion of the technology center is also possible, providing up to an additional 500,000 rentable square feet of space.

“We’ve seen a tremendous amount of interest among small medical groups and healthcare practitioners, as well as medical device and engineering companies, who are seeking a campus-environment that provides the most modern layouts, office-flex designs and services for their patients, customers and staff,” said Dan Bartell, founder of Bartell and Company Real Estate, with more than 30 years of experience in the commercial real estate industry. “With the addition of 3D Systems Technology as the anchor tenant, and Apria Healthcare as a prominent user, this is a premier location for other healthcare-related businesses that are looking for an address that will help their businesses to flourish for years to come. The campus will continue to become an important healthcare and medical device provider to this rapidly growing part of the metro area.”

Sitting on 23 acres of land, the 3D Systems Technology Center is an innovative commercial building center adjacent to C-470 in Littleton. With six buildings (up to 250,000 square feet) planned, 3D Systems Tech Center is becoming a highly desirable location. The commercial building campus is adjacent to surrounding community businesses, a stunning mountain backdrop, and minutes away from restaurants, retail and services.

Additional features include:

• Tenant options including 5,000 – 250,000 square feet for lease; or 50,000-square-foot building
• For Sale
• Flexible floor plans
• Varying height ceilings
• Highly visible signage available
• Drive-in doors of varying sizes
• Access to biking and hiking trails

 

Source: Mile High CRE