To entice the shift, the town will promote the 2.49-acre website at a diminished charge, according to the council agenda.
The land, valued at $2.7 million, will be marketed to Dallas Cowboys owner Jerry Jones’ Blue Star Land for $597,912. The diminished selling price is explained as a $2.1 million grant to help the project’s progress.
“Town council has investigated and identified that the enterprise satisfies the criteria for supplying the grant,” according to the agenda. “The enterprise shall be required to start design of the business office creating on the residence on or just before August 30, 2019, and complete design … in just 24 months.”
The design must also consist of additional parking for The Star.
Keurig Dr Pepper representatives would not remark Monday when contacted by The Dallas Early morning News.
Ron Patterson, president of the Frisco Economic Growth Corp., confirmed the agenda item but would not deliver information about the enterprise included.
“Indeed, there is an item on the town council agenda similar to the progress of a new business office creating by Blue Star Land in just The Star,” Patterson said in an electronic mail. “Blue Star is now in lease negotiations for this new residence.”
Dr Pepper moved its headquarters from Dallas to Plano’s Legacy company park in 1998. It was the 19th major public enterprise in Dallas-Fort Truly worth, based mostly on 2017 income of $6.7 billion.
Keurig Dr Pepper’s Plano business office creating is on Legacy Generate, just east of Dallas North Tollway. The practically 300,000-sq.-foot creating and adjoining parking garage ended up constructed in 1997.
Actual estate brokers say Dr Pepper scouted prospective places in Frisco and other nearby towns just before deciding on The Star, which is at the Dallas North Tollway and Warren Parkway.
Frisco has been aggressively luring company from Plano and other northern suburbs with financial progress incentives.
And The Star, anchored by the Cowboys’ headquarters and exercise facilities, presently has attracted significant tenants, including FM World wide, Bank of America, PlainsCapital Bank and RBC Wealth Administration.