DALLAS — This story was originally published by our content partners at the Dallas Business Journal. Read the original version here . FC Dallas is on the verge of a deal with the City of Frisco to move forward with renovations at the aging Toyota Stadium — but that's just part of what the owners of the Major League Soccer club want to do with the site.
Ultimately, they want to develop a mixed-use sports and entertainment district. If the deal is approved by the Frisco City Council, the city would issue up to $182 million in sales tax revenue bonds to support upgrades at the 19-year-old stadium. Hunt Sports Group, owner of FC Dallas, would also move forward with a plan to turn the area around Toyota Stadium into something comparable to the Star at Frisco, a mixed-use development centered around the Dallas Cowboys practice facility.
Frisco City Council is scheduled to vote on the agreement at its Sept. 17 meeting. The upgrades to Toyota Stadium have long been under consideration , but this is the first time the grander, mixed-use scope of the Hunts' plans have been revealed.
Hunt Sports Group has proposed a "mixed-use vision" that, according to city documents, would include 1.2 million square feet of class A office space, a 180,000-square-foot upscale hotel with 200 rooms and a 200-unit multifamily high-rise with retail and restaurant space on the ground floor. The development would also include 30,000 square feet of additional retail and restaurant space, parking structure.