A Chinese industrial conglomerate plans to build a huge mixed-use real estate development on the northern edge of Frisco.
Hong Kong-based China Lesso Group’s U.S. subsidiary is seeking planning approvals from Frisco to build a 77-acre office, retail, hotel and residential project on the south side of U.S. 380 just west of the Dallas North Tollway.
The proposed development would include office, hotel and residential high-rises plus an enclosed shopping center.
Lesso American officials did not respond to requests for information about the timing of the development. But details about the ambitious project were provided by Frisco’s planning department.
“The major component is a multi-level enclosed shopping center on top of a multi-story parking structure,” Frisco city planners say in the zoning case up for consideration this week. “Bisecting the enclosed shopping center is a ‘lifestyle’ pedestrian street with retail uses on the first floor.
“Surrounding the lifestyle street is additional retail, office, hotel, and urban living residential with open space interspersed and complimenting the development,” the filing says. “The architecture of the property will be modern, with details consisting smooth finishes, a high detail in glazing techniques, and many contours in the building shape.”
Architect Gensler, which designed parts of Plano’s $3 billion Legacy West development, has planned the Lesso Mall project to be built in phases around a large open space.
Buildings in the project could be as tall as 18 stories. The multi-level retail mall would sit in the center of the project, according to development plans from Frisco’s planning commission.
Lesso America has owned the U.S. 380 property for about two years. Since then, the company has been quietly planning development of the high-profile site.
“It’s always great to see quality development like this in our area,” said Don Godwin, a prominent Dallas attorney and longtime Collin County real estate investor. “The Tollway/380 corridor seems to have really picked up steam as of late.
“I feel this area is seeing some of the same growth patterns as Tollway/State Highway 121 did during the last real estate cycle when Ikea located in Frisco and the Granite Park development (in Plano) took off.”
The Lesso America property is just southeast of the 2,100-acre Windsong Ranch community in Prosper. And it’s near where movie theater chain Cinemark is building a 12-acre, 10-screen cinema complex and retail center.
Craig Martin, one of the founders of Windsong Ranch developer Terra Verde Group said he’s not surprised to see the Lesso America tract planned for construction. He said other developers have worked with the property but didn’t move ahead.
“I thought that deal was going to happen years ago,” Martin said. “It is a great location.”
Lesso Group has been in business since 1986 and has grown into a huge manufacturer of building materials and home decor products. The company had more than $3 billion in revenue last year.
Its Lesso America subsidiary is based in Carona, Calif., and has a distribution center in Garland.
Last year Lesso America purchased an empty shopping mall in Long Island, N.Y., and is redeveloping into a cutting edge home products center. Called Lesso Home New York, the center will have home furnishing, design and decor retailer, plus restaurants and entertainment outlets.
Published on 2018-07-18 13:00:42
