A new mixed-use Firefly park is coming to Frisco
Dream Hotel Group expands into Texas with a new property in Frisco, at the southwest corner of the Dallas North Tollway and US Highway 380.
The 200-key hotel, which is expected to open in 2023 and open in 2026, will be the anchor of the new Firefly Park mixed-use development. The landmark project includes 4.75 million square feet of office space, 2,200 residential units (including mid-rise and high-rise luxury apartments and townhouses), and 380,000 square feet of planned retail space. The project should also include a music hall and an outdoor amphitheater.
“We’re going to do it in spades in Frisco,” says Kyle Wilks, CEO of Wilks Development, the developer behind Firefly Park. “We all agree. We believe this is a legacy deal, and we may only get one chance to do a project like this on this scale.”
If you’ve never heard of Wilks Development before, you’re probably not alone; Based in the West Texas City of Cisco, the company has primarily developed mixed-use, multi-family and industrial projects in West Texas and West Fort Worth. The company is also developing a 200-acre business park called Markum Ranch in West Fort Worth and land in Southlake approximately 2 miles from Fort Worth Alliance Airport.
Wilks is the son of Farris Wilks, one half of the famous “Wilks Brothers”, who sold a 70% stake in their oil and gas services company Frac Tech for $3.5 billion in 2011. Dan and Farris Wilks have founded Frac Tech in 2002 and grew from the family business into the nation’s largest independent pressure pump supplier.
“The new Dream Hotel in Frisco will provide a unique hospitality experience in the market today and will take the vibrancy and fun of Firefly Park to a whole new level,” Wilks said in a statement.
Lynn Dowdle, president of Dowdle Real Estate and North Texas hospitality industry expert, connected Dream Hotel Group with the Wilks development team. “It was an honor to bring the Dream Hotels brand to this project,” she says. “This is a perfect choice for the town of Frisco and one of the most anticipated hotel openings in the area. Dream Frisco will deliver a sophisticated and cool factor like no other.
Amsterdam-based architect UN Studio and Sasaki Associates designed Firefly Park.
Wilks says the first phase of the project will include the hotel and focus on attracting unique dining concepts. Equally important, he says, are the 40 acres of public space with multiple ponds, water features, and hiking and biking trails, as well as state-of-the-art children’s playgrounds. “That’s why I got into development,” Wilks said. CEO. “I want to create a place where you can bring your children. My goal is to build places where I can see the community having fun for years to come.
Firefly Park in Frisco
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Wilks Development is known for adding an extra touch to their projects. At The Shops at Willow Park, a mixed-use development about 20 miles west of downtown Fort Worth, Wilks commissioned an artist to create a 25-foot stainless steel sculpture of an alligator gar. While he has no plans for gigantic guys in Frisco, he says public art will be a feature of the new development.
When asked why he chose the name Firefly Park, Wilks replied that he wasn’t about to choose a boring name. “We want this place to be full of vibrancy and energy,” he says. “When you think you’re a kid and running around in the woods, you grab those fireflies and put them in a jar. For me, it brings back fond childhood memories and all the fun I had. … We thought that it was a good opportunity to throw a curve ball and go with something with a little more flair.
And the project will be a spark for Frisco, indeed.
Call from Brandon J.
Brandon J. Call is the editor of CEO magazine. An award-winning business and data journalist, Call has previously served…