Search
 

$3M Funds Sports Village USA

FRISCO, TX-the company hopes to partner with the developer on similar community projects across the US. Current project is centerpiece of $100 million development.

By John McCloud | Updated on March 17, 2009

FRISCO, TX-Realty Capital Partners (RCP) of Colleyville, TX closed a $2.6 million equity investment with Sports Village Holdings (SVH), which recently completed a 33-acre amateur sports village at Frisco Street and All Star Way in this Dallas suburb. The two companies hope to develop similar facilities in other communities across the US.

The approximately $100 million Frisco project is anchored by Fieldhouse USA, an 11-acre, 144,000 square foot, state-of-the-art athletic facility with 12 full-sized, indoor basketball and volleyball courts; an indoor turf field for soccer, lacrosse, flag and arena football; and 13,200 square feet of retail space. “This is the first project of its kind in Frisco, which is a great market,” says RCP investment manager Jared Gossett. “The only existing competition is the Plano Sports Authority, which is about 15 miles to the south. We regard our facility as superior in both its technology and the programs we run through it.”

According to Gossett, RCP sees community sports facilities as a very good investment for tough economic times. “Even in a recession, it’s hard for parents to cut out their children’s athletics,” he says. And cities like Frisco, he adds, make the ideal location. “Frisco has more children of preschool age than it has in the entire school system,” he notes. “There’s a huge pipeline of children that will coming through the system. It’s a great driver of demand for this facility.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.