According to the Dallas Morning News, developers of Railhead, the new 80-acre $1.5 billion mixed-use project in Frisco, just got the green light to move forward. Though it will ultimately contain more than 1,200 urban residences and about one million square-feet of commercial space, the first phase of construction will include a portion of the residential units and a 10-story office building.

"This development will be the third largest development coming to Frisco at this time consisting of more than 80 acres," real estate broker Jim Newman, who's representing the Railhead, told the News. "This will be the first major development north of Main Street."

Newman’s family, whose local lineage dates back seven generations, and the Wade family are both longtime Frisco landowners who are working with investors on the project.

Located on the west side of Dallas North Tollway near the $5 Billion Mile, Railhead will include nearly two dozen buildings surrounding a central park, the heart of the project and gathering place that will be twice the size of Klyde Warren Park in Downtown Dallas. 

Large office buildings, a 50,000 square-foot wellness center, a hotel, and retail and restaurant space will be built on the part of the site fronting the tollway. Residences and smaller office buildings will go up on the more secluded western portion.

"The development has 24 percent greenspace, far exceeding any other development in Frisco, and has open space in excess of Frisco requirements," Newman added.