Frisco is betting $10 billion on a 2,500-acre development that's supposed to be a "city within a city." If it works, it redefines what a North Texas suburb can be. If it doesn't, well—mixed-use developments fail all the time.
The Setup
The Fields is not a neighborhood. It's not even a "master-planned community" in the normal sense. It's a fully integrated development spanning:
- •Fields Frisco: 2,500 acres with PGA of America headquarters, two championship golf courses, the Omni PGA Frisco Resort, and residential enclaves ranging from $700K townhomes to $3.5M+ estates
- •Fields West: 55 acres of high-end retail and dining competing directly with Legacy West—Bloomie's, Mastro's, and Sephora are confirmed
- •The Preserve at Fields: Gated golf course estates at the ultra-luxury tier
- •Brookside at Fields: "Accessible luxury" at $700K-$1.5M
Hunt Realty is the master developer. The city of Frisco is backstopping infrastructure through TIRZ #7 (Tax Increment Reinvestment Zone), which redirects property tax increments to fund $70M in parking structures and public improvements. This is the largest single private development in North Texas history.
Want help applying this?
Sofee matches your priorities to the right suburb
Tell us what matters — commute, schools, budget, lifestyle — and we'll show you which North Dallas cities actually fit. No spam, no sales pitch. Just signal.
Take the quizWhy This Could Work
The bull case for Fields is straightforward: North Texas has proven demand for luxury mixed-use environments, and Fields is delivering at a scale nobody else can match.
PGA of America is a permanent anchor. Unlike corporate headquarters that can relocate, the PGA moved its institutional center of gravity to Frisco. Two championship courses, a 500-room resort, a 127,000 SF headquarters building. This isn't a tenant—it's a co-investor in the city's identity. The estimated economic impact: $2.5B annually.
Fields West fills the "high-end retail gap." Frisco has Stonebriar (standard mall), Legacy West (upscale), and The Star (football-themed). Fields West is positioning as the Rodeo Drive of North Texas—fewer stores, higher price points, more experiential retail. If you want to buy from Bloomingdale's without driving to Dallas, this is where you'll go.
The infrastructure is pre-funded. Unlike developments that build incrementally and hope the city catches up, Fields has TIRZ financing that constructs roads, utilities, and parking before vertical development begins. The city is essentially de-risking the execution timeline.
The "Northern Frontier" narrative is real. Frisco's southern core (Legacy West, The Star, Hall Park) is maturing. The growth energy has shifted north to the US 380 corridor. Fields is positioned as the destination anchor for this shift.
Why This Could Fail
The bear case is also straightforward: mixed-use developments are notoriously difficult, and scale amplifies risk.
Retail has changed. The malls that anchored 1990s suburbs are dying. Fields West is betting that ultra-luxury experiential retail is different—that Bloomie's and Mastro's draw crowds even when Amazon delivers everything else. Maybe. But the category has a body count: The Shops at Willow Bend just lost its Neiman Marcus. "High-end retail" is not immune to structural change.
The residential price points are extreme. The Preserve estates start at $3.5M. Brookside starts around $700K but quickly climbs to $1.5M+. At these prices, you need a steady supply of very high-income buyers—executives relocating, tech founders cashing out, professional athletes. If the supply of $2M+ buyers softens (recession, tech layoffs, interest rate spikes), inventory accumulates.
PID assessments add hidden costs. Fields homes carry Public Improvement District assessments of $2,400-$3,000+ annually for 20-25 years. This functions like a lien on the property and reduces mortgage purchasing power by ~$30,000. Many buyers don't fully account for this until closing.
The 20-year buildout timeline creates execution risk. A lot can change in 20 years. The 2008 recession stranded half-built developments across the country. Wade Park in Frisco (now "The Mix") was supposed to be a $2B destination development; it went bankrupt and sat as a hole in the ground for years. Fields is better capitalized and better managed, but the lesson is clear: mega-developments require staying power.
The Honest Assessment
Here's what I actually think: Fields will probably work—but not because mega-developments always work. It will work because the specific conditions in Frisco favor it:
- •
Frisco has a demonstrated history of executing at scale. The Star was a $1.5B bet that paid off. The $5 Billion Mile is delivering. The city's public-private partnership model has a track record.
- •
PGA of America is a fundamentally different anchor. A golf federation headquarters is not the same as a corporate tenant that might relocate in 10 years. The PGA bought land. Built courses. Moved its museum. This is commitment.
- •
The buyer pool for North Texas luxury is deeper than most markets. Corporate relocations (Toyota, JPMorgan Chase, Liberty Mutual) have brought executive-level wealth that sustains premium price points.
- •
The alternatives are limited. If you want new construction luxury in Frisco's emerging "Northern Frontier," Fields is the game. There's no competitive product at similar scale.
What This Means for Buyers
If you're considering Fields, understand what you're buying:
The Preserve ($3.5M+): You're buying golf course estates with PGA pedigree. This is for buyers who want Vaquero-level exclusivity in Frisco. The appreciation thesis depends on Fields West delivering the "luxury lifestyle" that justifies the premium.
Brookside ($700K-$1.5M): You're buying access to the Fields ecosystem at the entry tier. The appreciation thesis depends on proximity to Fields West becoming valuable once the retail opens (Q3 2027-2028).
Timeline risk applies to both. If Fields West underperforms or delays, the "walkable luxury" premium doesn't materialize. You're left with expensive homes in a partially-built development.
The optimal strategy, if you're bullish on Fields: Buy Brookside during construction friction (now through 2026), before Fields West opens. The market typically reprices 6-12 months before a major retail opening. If you wait until 2028, the upside is already priced in.
The Bottom Line
The Fields is not a safe bet. It's a leveraged bet on Frisco's ability to execute at unprecedented scale.
The bull case is strong: proven city leadership, permanent anchor, deep buyer pool, pre-funded infrastructure.
The bear case is real: retail disruption, extreme price points, PID obligations, 20-year execution risk.
If you're buying, go in with eyes open. Model the PID into your monthly payment. Understand that you're betting on a 2027+ timeline. And recognize that the "city within a city" vision requires everything to work—golf, retail, residential, hospitality—as a coherent whole.
Frisco has made big bets before and won. But there's always a first time it doesn't.
Sources: Fields Development Brochure, Hunt Realty Master Plan, Frisco 2040 Comprehensive Plan, TIRZ #7 Agreements, Community Impact News