Fields West, the much-anticipated 55-acre urban village in the heart of Frisco, has lined up a $425 million construction financing, closing on July 1, 2025. The funding is a milestone for the project’s first phase, now underway, and reflects growing momentum for one of the most ambitious real estate developments in North Texas.
The loan will fund construction of a vibrant mixed-use neighborhood with 350,000 square feet of retail, 325,000 square feet of offices, 1,140 luxury apartments, and eight parking garages. The first phase is planned to blend luxury city living, upscale workplaces, and upscale shopping and restaurants—all in walkable, interconnected environments.
Phased One received financing from a consortium of three major lenders—Prosperity Bank, JP Morgan Chase, and Bank of America—demonstrating institutional confidence in the long-term economic and community dividend of the project.
Fehmi Karahan, president and CEO of The Karahan Companies, the Dallas-based firm leading the development in partnership with Hunt Realty Investments, confirmed the development will phase in. “We will phase our openings, starting with the northern sector around fall of 2027 and work our way south, with all the way planned to be open by first quarter of 2028,” Karahan stated.
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Fields West
Fields West is a high-density, luxurious urban village. Moreover, it features world-class shopping, dining, entertainment, and office space. Additionally, it’s integrated with living possibilities in Frisco’s heart. Notably, Frisco is one of America’s fastest-growing cities.
Furthermore, Fields West represents a jewel of the larger Fields development. This $10 billion, 2,500-acre master-planned community will also include the PGA of America headquarters. Additionally, it will feature the future Universal Kids Resort.
The City of Frisco has committed substantial financial support as part of the development agreement. Specifically, this helps pay for the project’s infrastructure and public amenities. The city sold $70 million in municipal bonds in late June. Additionally, another $24.5 million in grants will be offered to the developer. However, these grants are contingent upon completing the entire Fields West project.
Phase One commercial leasing
Phase One commercial leasing piece is already gaining steam. Several major big-box retailers have signed up, including Bloomie’s—a smaller scale Bloomingdale’s—Kendra Scott, Sephora, Pottery Barn, and Williams Sonoma. The property also expects to be a food destination, with eateries such as Mexican Sugar, Sixty Vines, Claremont, Green Point, Tommy Bahama Marlin Bar, and the first North Texas location of Mastro’s Steakhouse all planned to open.
A shopping and residential hub in addition to being a site of planned openness, livability, and connectivity, Fields West is designed by principles of walkability and intelligent land use. Walkable spaces and efficient land use are the signature of the entire Fields project. According to Frisco Mayor Jeff Cheney, speaking at a ribbon-cutting ceremony for The Preserve at Fields, “We want to make sure we capture the blue-sky opportunities, preserve as much open space as possible.”
Fields West Economic Impact
Open, Fields West will generate over $400 million annually in sales and purchases throughout the city, not only a place to visit but an economic engine for Frisco’s future.
As construction on the first phase begins, Fields West already is establishing new benchmarks for North Texas urban development—combining lifestyle, opportunity, and long-term value within a community built to thrive for generations to come.
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Fields West Receives Construction Financing: Project Factsheet
Project Overview
Fields West is a 55-acre luxury urban village located at the heart of Frisco’s Fields development, representing one of North Texas’s most ambitious mixed-use real estate ventures.
Financial Milestone
Construction Loan: $425 million secured
Closing Date: July 1, 2025
Lenders: Bank of America, JP Morgan Chase, and Prosperity Bank
Development Specifications
Fields West Phase One Components
Retail Space: 350,000 square feet
Office Space: 325,000 square feet
Residential Units: 1,140 upscale apartments
Parking Infrastructure: 8 parking garages
Opening Timeline
Northern Portion: Fall 2027
Full Completion: Q1 2028 (phased rollout moving south)
Read also: Construction Begins on The District, a $500M Mixed-Use Development in Round Rock, Texas
