Frisco is doubling down on Kaleidoscope Park, signing off on up to $38 million for a new 1,100-space parking garage just south of the green space. City officials say the project is meant to keep up with parking demand since the park opened, replacing an older two-story garage and leaving room for a future office tower on top of the new parking podium.
Funding and conditions
The financing cleared Frisco City Council at its Jan. 20 meeting, with the Frisco Economic Development Corp. agreeing to chip in $7 million, but only if the garage and any attached office project are finished by June 2028, according to Community Impact. The rest of the construction cost is expected to come from tax-increment revenue inside the area’s tax increment reinvestment zone, or TIRZ.
City staff and project backers argue that using the TIRZ lets new investment in Hall Park cover public improvements like the garage instead of tapping the city’s general fund.
What the garage will add
The new structure is planned to provide about 1,100 parking spaces, with roughly 100 of those set aside specifically for Kaleidoscope Park visitors to help handle event and weekend crowds, as reported by The Dallas Morning News. Council approved the garage alongside a roughly $14 million update to the park’s master plan that calls for a new water feature, a stage and an outdoor video screen.
City staff have said the extra structured parking is a direct response to visitor demand at the park, which opened in October 2024.
Office plans and the site
Design documents show the garage is being engineered to serve as a base for a Class A office tower that could climb at least 12 stories and include around 100,000 square feet of space, according to industry reporting. The project sits on a roughly 2.7-acre redevelopment block next to the park and is expected to plug into Hall Park’s growing mix of hotels, residences and offices, ConnectCRE reports.
The broader park expansion was conceived as a public-private partnership, with the Hall Group and the Frisco Community Development Corp. each contributing to earlier phases.
How it fits Hall Park’s growth
Supporters say the new garage and future office tower are meant to boost daytime activity around the park and make it easier to host larger regional events without cars spilling into nearby neighborhoods. Frisco created the TIRZ for the Hall Park area in 2020 to capture rising property tax values and funnel that money into infrastructure and public amenities. Meeting materials tied to the Jan. 20 vote detail how those tax increments will be used on this project, according to Community Impact.
Recent additions to the zone include the Hall Park Hotel and the Monarch residential tower, which, along with Kaleidoscope Park, have helped draw interest in more nearby retail and office space.
Timeline and next steps
Industry coverage indicates that work on the park expansion, new garage and office podium is expected to start in early 2026 and wrap up by mid-2028, a schedule tied to the Frisco EDC’s funding condition. ConnectCRE notes that estimates for the combined parking and office project suggest total development costs could climb past the city’s $38 million authorization.
Before construction can begin, the city and developers still have to finalize designs, secure permits and meet the grant requirements that unlock the economic development corporation’s $7 million contribution.
