A high-rise hotel and condo project is in the works for one of Frisco’s major developments.
Developers are planning the new tower as part of the $1 billion Gate development on the Dallas North Tollway.
The 49-acre Gate mixed-use development already includes apartments and has an office project in the works.
Now a unit of Dallas-based JMJ Development Inc. is asking Frisco’s city council to approve plans for the high-rise and OK financial incentives.
The 25-story building would be built on 4.5 acres at John Hickman Parkway and the tollway.
The project will include 225 luxury hotel rooms, 15,000 square feet of meeting space, retail and restaurants. The top floors of the tower will have 150 condo units, according to plans filed with the city.
Frisco’s economic development corporation is asking the city council to provide tax incentives to support the new building.
JMJ Development is also building a high-rise condo and hotel on Turtle Creek in Dallas. And the developer has proposed another project in Dallas’ Design District.
The developer is buying the land from Dubai-based Invest Group Overseas, which owns The Gate development.
Two apartment projects by builders JPI and Embrey Partners are part of The Gate development.
The Gate — along with the adjoining Frisco Station and the Dallas Cowboys’ Star project — is part of Frisco’s so-called $5 billion mile of major real estate projects.
Hatem Mojahed, the project manager for The Gate, said with the site being sold for the hotel/condo tower, about 10 acres of office and retail property remain to be developed.
JMJ Development’s planned Gate tower would be the third residential high-rise in Frisco.
Atlanta-based developer Novare Group has opened an apartment tower at Frisco Station, and construction is finishing in the Cowboy’s Star on another luxury residential high-rise.
