Champion JV, Post Craft $250M Mixed-Use Plan

FRISCO, TX-Champion Partners has unveiled a $250-million, mixed-use development for the 720-acre Frisco Bridges. In detailing the plan, the Dallas developer has revealed Post Properties Inc. recently acquired 10.6 acres to develop the lion’s share of the residential space.

“We had upwards of eight to 10 highly qualified multifamily developers actively talking to us about the site,” Steve Modory, Champion’s managing partner, tells GlobeSt.com about a development that’s been on the drawing boards nearly two years. Not only was Post Properties its award-winning partner on Addison Circle, another well-known mixed-use in North Dallas, but it was “willing to take down all of the land in one purchase,” he adds. The prized land has 1,400 feet of frontage along the Dallas North Tollway at the Gaylord-Warren Parkway exit.

Modory and Barney Sinclair, partner in the firm, say Post Properties will take the lead for the land’s development, possibly starting construction in late 2007 on 500 apartments and 50,000 sf of street-level retail. Champion’s freeway-fronting 10.6-acre tract is earmarked for 400,000 sf to 600,000 sf of class AA mid- to high-rise office, four-star or full-service hotel, roughly 25,000 sf of service retail catering to the Sierra Frisco residents and possibly some residential from its award-winning team. “It would be a stretch to start office in 2007,” Modory says. “It’s not in our business plan.”