Lenders set April 3 date for forced sale of $3B Wade Park in Frisco – Dallas Business Journal

For the third straight month, the $2 billion Wade Park project – one of the largest pieces of Frisco’s much-touted $5 billion mile of developments along the Dallas North. property also escaped.

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Legacy Business Park is a 2,400-acre master planned corporate business park located immediately south of Frisco across SH 121 and is home to major corporate employers with a workforce of over 30,000 people. Hospitals The area benefits from having a large concentration of medical services within a short distance.

Construction on Wade Park in Frisco has slowed, causing changes in the scheduled deadlines. Frisco’s Wade Park Faces More Delays, Deadlines – NBC 5 Dallas-Fort Worth

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Wade Park is conveniently located along the Dallas North Tollway in Frisco, just 20 minutes North of Dallas, giving Frisco’s residents and businesses access to a region over 6.3 million people. The property is positioned just 25 minutes from Dallas-Fort Worth International Airport , the third busiest airport in the world.

Wade Park lenders file foreclosure notice. According to the notices, a sale of the property is scheduled for March 6 unless an agreement is reached. The development has faced financial trouble in the past year. After the developer secured a loan to keep construction moving, several tenants were found to have pulled out of the development.

The financial turmoil continues for Frisco’s $3 billion Wade Park development as a second lender owed millions of dollars has made another foreclosure filing for the property. Search Close Sign In

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Wade Park In Default. The lender, which has provided over $48M in loans to the development since 2015, is looking to initiate a forced sale, according to the Dallas Morning News. Work on the 180-acre luxury development stopped months ago as it hit choppy financial waters under the weight of over $10M in liens from more than a dozen contractors.

Wade Park, Frisco. 1.8K likes. Wade Park, a 175-acre mixed-use development will rise to be an alluring destination in Frisco.

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