Frisco Performing Arts – So Frisco has a brand new performing arts center and a public private partnership. They do a ton of these different things and performing arts is pretty huge in Frisco. Yeah, I’m all excited about most parts of it. Most parts, but I’m not satisfied that they added more Cheney units. So that’s going to be a problem for me personally. Not a big fan of that. That’s luxury real estate broker Shana Acquisto. I’m Mike Acquisto with the hot sports opinions on no more training units in the city of Burstow.
Do the performing arts center. You didn’t tell me. Great question, Shana. What if I went ahead and shared some information and split the screen and kind of went over this with you? All right.
You have Chaney on TNT so you can totally drill them about the Cheney units.
You know, I think somebody needs to question him on that. Yeah, I have no problem if I need to be that person. So your name right now, you texting him right now? That’s awesome. On June 1st. So that was yesterday. The city of Frisco got together and they officially voted on it, that they’re going to put in a new performing arts center and it’s going to be their first step to take this in a public private partnership.
So let’s kind of describe what that is. Is the city’s put into money then this private person who owns the plaza or the property is putting in some money and then the Economic Development Corporation or EDC is also putting in some money to do these things together. And I think the school does as well. That is so that they can utilize it. And this is, I don’t know, like the third or fourth one that I kind of know about, because they did it with the stadiums. They did it with the golf. Yeah. The full soccer football and now the PGA. And then this this has for yeah.
I, I love the concept. I really, really love that concept that we get better things around here. So here he is, Mayor Jeff Chaney, he’s really excited about this brings for us and that’s kind of cool. So thanks Jeff for that. I am excited about most of it. So what we have here in this initial proposal is it will be the main performance hall with at least twelve hundred and fifty people and there’ll be a smaller venue with two hundred and fifty seats. So this is really good sized.
Maybe it could eventually be used for graduations or different items. I’m sure there’ll be a lot of stuff. Multistory parking with eleven hundred spaces and a five acre park. So it’ll be extra outdoor space and play areas and all those different things. The total cost one hundred and fourteen million dollars is going into this. Ninety nine dollars in ninety nine dollars million in public funds in twenty five million from Hall Park. So how is going to be putting in twenty five million dollars a family.
Yeah they’re pretty amazing.
Yeah. And that does not include the land of ten acres that they’re contributing to this. So that’s an additional amount. This is a true investment that they’re putting in here and include that parking garage. Now the Frisco EDC is also putting in five million dollars. That they’ll be putting in and they’ll be putting in such improvements for the redevelopment will be a 15 story triple A. office building. So that’s going to be really nice to hotels and a parking garage.
Ok, I’m sorry, what’s a triple-A office building?
So they put them in different classifications. I’m glad you should ask such a question. Expect me to have an answer on the spot. And I do. So what they do is they put these they put the classes of office space into different groups based on how new it is, what the finish out is and what the pricing is in the amenities that are related to it.
OK, so triple A is a super premium one. I don’t know if it’s the highest. I’m not sure if there’s more than triple, but if you have class, A office space is considered a really good brand new class B would be slightly older and a little bit dated Class C office space. You’d walk in, you’d be like, should I really be here? And you’d kind of feel a little bit weird about it. And then the pricing would kind of be accordingly. So those are just thanks for asking those questions.
I think we should do that. We’re looking at homes. Yeah, this is a C home. Let’s get out while it just helps break things down a little bit.
Right then. We also have, let’s see, drum roll for Mr. Cheney. We have luxury residential high rise. Two hundred and fourteen units. The third luxury.
Oh, I was excited about that. Who thinks we need that in this area? No hands, no hands, nobody, nobody except the mayor.
For me, it’s we rather hear more about the idea and the thought behind it before I give priority. No action. No, I already know the answer. I know how I feel. I’m out. We have plenty of apartments, plenty of them. But these are luxurious, high rise
Yet good. So all that does is make the other ones that we have that aren’t quite as good lower. And then and then when those become lower end and we age them just a little bit, just kind of look forward and see what how that plays out, OK. Calling you out, all right, there we go. Any other questions on this one, Shana?
I don’t believe so, no. All right, I know you were really good friends with the previous EDC.
Yeah, Mr. Jim Gandy, he’s also an actor, Director or president. Whatever it is, you the top dog?
Yeah. He’s probably responsible for a lot of the initial growth at Frisco.
Yes, Jim Gandy’s to me, But I think Ron Patterson’s our new ABC guy and the mayor. I think they’ve done a great job as well.
I love the idea of this partnership. I love the idea of the partnership. I would if you just stopped and cut out the more apartments, I’d be better with it and just call it what it is.
I think we do need a percentage of of of apartments, multifamily rentals, But I think we already have it.