Frisco’s Wade Park changes ownership, but what that means for troubled development is uncertain

Frisco’s Wade Park development site has changed hands, but it’s unclear what the transaction means for the troubled real estate development.

Ownership of the uncompleted project on the Dallas North Tollway was recently transferred from Atlanta developer Stan Thomas’ Wade Park Land Holdings’ to WP Development Partners LLC.

The deeds for the land were sent to a New York title company office, Collin County records show. The new company was incorporated in Delaware in early February.

“We are finalizing financing for the project,” Thomas said. “This transaction is part of it.”

Thomas said it was premature to provide any more details about the pending funding.

The 175-acre Wade Park property has been threatened with foreclosure for the past year. Work on the development stopped in mid-2017, leaving partially constructed buildings and a huge excavation site along the tollway.

Steve Brown, Real Estate Editor

Link to Full Story

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s