FRISCO, Texas — Frisco City Council voted to approve the $182 million renovation project at FC Dallas' Toyota Stadium on Tuesday night in a unanimous 6-0 vote.
The main points of the project include upgrades to the 19-year-old stadium, which include upgraded club spaces, seating, and luxury suites; adding 3,400 seats to the north end of the stadium (20% increase in stadium seating capacity); new LED sports lighting system with major audio/visual upgrades; and perhaps most importantly to the general fan experience: A fabric canopy structure on the east, west, and majority of the north end.
Also included in the project details is the vision for a mixed-use development similar to The Star in Frisco and Texas Live! This development would be utilized in the parking lots on the west side of the stadium, vacant land (owned by Hunt Sports Group), and a parking lot (owned by the city) at the northwest corner of Main Street and Frisco Street.
According to the documents submitted to the city council, here is how the $182 million would be paid out:
- 44% by TIRZ #1. (Tax Increment Reinvestment Zone #1) – $80,080,000
- 36% by Hunt Sports Group via bi-annual lease payments through December 31, 2057 – $65,520,000 (66 payments of $992,727)
- 20% to be paid by the FCDC (Frisco Community Development Corporation) – $36,400,000
- Overruns to be paid by Hunt Sports Group
Here is a full breakdown of what the project entails:
Toyota Stadium Improvements
- Upgraded club spaces, seating, and luxury suites
- New broadcast boots and press box
- New north, east, and west entrance gates
- New food service commissaries and kitchens
- Reconstructed concourse structures with new public restrooms, concessions, and retail outlets
- The north entrance will be the primary entryway and focal point with new retail space
- North end of the stadium adding 3,400 seats (A 20% increase in stadium seating capacity)
- New stadium technology and broadcast capabilities to meet current MLS standards
- New LED sports lighting system with major audio/visual upgrades
- A fabric canopy structure on the east, west, and majority of the north end (similar to the existing south end)
Frisco approves $182 million Toyota Stadium renovations
Mixed-use sports and entertainment district
- 1.2 million square feet of Class A office space
- 200-room full-service, upscale hotel (180,000 square feet)
- 200-unit Multifamily high-rise with retail/restaurant space on the ground floor (300,000 square feet)
- 30,000 square feet of retail/restaurant space (freestanding, or ground floor of hotel, and/or multifamily building)
- Parking structures for shared parking for event attendees and mixed-use district tenants
- Complimentary civic spaces and urban streetscape
The agreement extends FC Dallas owner Hunt Sports Group's lease with Toyota Stadium, which is owned by the city, through 2057.
The city document said, "it is critical to note that a public investment in stadium capital improvements and mixed-use improvements will not result in any property tax increases for Frisco residents and businesses."
More FC Dallas coverage: