Developer readying for Peak One construction in Frisco
summit daily news
FRISCO – To get the ball rolling on Frisco’s new affordable Peak One Neighborhood, council members approved the dedication of land for parks and recreation. This puts developers on track to start construction “quite soon.”
Ten Mile Partners lead developer David O’Neil said he didn’t want to name an exact date, but construction will most likely commence within 30 days.
The new deed-restricted neighborhood is set to be built south of Main Street starting this spring on the 12.68-acre Peak One parcel, and the plan will include 70 units in a mix of duplexes and single-family homes. Twelve homes will be built this summer.
With the necessary town government OKs in place, O’Neil said next steps include getting “a grading permit to do horizontal construction” and setting final pricing for the units.
“That’s a balancing act of quality, affordability and sustainabiliy,” he said. “We’re close on the pricing. Once we have that, we’ll start working through the waiting list and signing people up.”
Interested residents were able to get on the waiting list with a refundable $500 deposit starting April 6.
The units will range from small cabins (around 800 square feet) to single-family homes up to about 2,000 square feet. The homes are being made available to people making between 80 percent and 160 percent of the area median income, or income ranging between $68,000-$136,000 for a family of four. Ten Mile Partners anticipates construction to build-out will take at least five years.
“On behalf of the town, getting the project underway is exciting for the community because it provides local working professionals and their families the opportunity at home-ownership in Frisco,” said town planner Jocelyn Mills.
The Town of Frisco is also moving forward on construction for its Frisco Peninsula Recreation Area development.
A public ground-breaking ceremony is set for May 4. The first phase of the recreation development includes a tubing hill, a bike park, a day lodge, a terrain park, plus roadway and parking improvements.
Frisco officials hope to bolster the town’s 2010 sales tax collections with revenues generated from the peninsula recreation redevelopment project – a new tubing hill could be open for Thanksgiving visitors.
For more information and to view plan sketches, visit http://www.friscogov.com.
Caitlin Row can be reached at (970) 668-4633 or at firstname.lastname@example.org.
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