New Baylor Scott & White Hospital Coming to North Frisco
Good news for the commercial real estate industry in north Frisco, TX. A new $265 million hospital is coming to the area near the Professional Golfers’ Association of America development. The project is expected to begin construction in March 2021 and be completed by May 2025. HKS Inc., a Dallas-based architectural firm, will design the facility, according to the development filing.
The new hospital located at the northeast corner of PGA Parkway and the Dallas North Tollway will be nearly 340,000 square feet and will have state-of-the-art facilities including a five story medical office building, two parking garages, an ambulatory services building, central energy plant and helipad access. It should offer diverse health care services such as emergency services, imaging services, surgery services, women's health clinics and more.
In anticipation of this project in 2022, the property was rezoned from "Office Park" to "Health Care District". This change allowed for special use permits that would allow for medical research related activities such as nursing schools or laboratory research related activities on site. This rezoning also allows for hospice care centers which are not typically allowed in Office Park zoning districts.
The new hospital has been estimated to create around 1,600 jobs with an average annual salary of $80K per year. This is great news for Frisco residents who may be looking for employment opportunities in their field or may need access to better health care options in their community. Additionally, it is estimated that this project could add up to $1 billion dollars into Frisco's economy over time due to increased tourism and business activity spurred by its presence.
The new hospital could also bring additional investment into north Frisco in terms of restaurants, hotels and retail stores that are drawn by its presence and cater to its visitors. This could contribute significantly to local businesses already operating near PGA Parkway & Dallas North Tollway as well as those looking to enter into the market who see potential opportunity with this expansion project underway.
The addition of a $265 million dollar state-of-the-art Baylor Scott & White Hospital near PGA Parkway & Dallas North Tollway is sure to bring economic growth and prosperity into north Frisco over time through job creation and additional investments from local businesses wanting a piece of the action too! With construction set to begin March 2021, we can expect completion by May 2025 - making this project one worth keeping an eye on in 2021!
All information provided has been obtained from sources deemed reliable. However, neither Victory Real Estate Group nor any of its brokers, agents, employees, officers, directors or affiliated companies (collectively, Victory Real Estate Group and Related Parties) have made an independent investigation of the Information or the Information sources, and no warranty or representation is made by Victory Real Estate Group and Related Parties as to the accuracy of such Information. The Information is submitted subject to the possible errors or omissions, and no person or organization should rely on the Information, unless such person or organization has conducted and independent investigation to confirm the accuracy thereof.
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