In a move that solidifies FC Dallas’s future in Frisco, the Frisco City Council has given the green light to $182 million in enhancements for Toyota Stadium. As reported on Tuesday, the improvements are set to include additional seating, shaded areas, upgraded suites, and revamped press facilities. The deal also includes an extended lease that will keep the team in place for over three decades.
Expanding on what the facility offers, the City of Frisco has embarked on a large-scale refurbishment that "will also elevate the brand, ‘Sports City USA’, on a national and international stage," as highlighted in the City of Frisco. The funds will come from a mixture of public and private sources, with the Hunt family, owners of FC Dallas, shelling out $65 million and covering any excess costs.
The initiative is not just about seating and shade. The Frisco Community Development Corporation (FCDC) will issue sales tax revenue bonds to fund its share, and together with the City and the Frisco Independent School District, they plan to use a tax increment reinvestment zone (TIRZ) for their parts of the funding. FCDC Chair Karen Cunningham expressed the organization's pride in continuing their investment, according to details provided by the City of Frisco.
Adding to the stadium's expansion, plans for private development have been approved by the Frisco Economic Development Corporation (FEDC) Board of Directors. The agenda features an upscale hotel, retail spaces, luxury living units, AAA office space, and a substantial parking garage. A $25 million Qualified Infrastructure Grant is put forth by the FEDC to incentivize the Hunt family's development, breaking ground on Phase 1A that must be completed by the end of 2035, as documented in a presentation to the Frisco City Council.
