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Frisco proposal would pair Toyota Stadium hotel with tax incentives and fee breaks
Frisco leaders are set to review a proposal for a 250-room hotel, convention center and retail space at the Toyota Stadium campus. The deal would provide the developer with a share of city hotel taxes for 10 years and a partial waiver of development fees, alongside state tax incentives.
Frisco city leaders are scheduled to review a proposed economic development agreement Tuesday for a hotel and convention center project at the Toyota Stadium and Soccer Center campus, home of FC Dallas.
The plan calls for a 250-room hotel, a 15,000-square-foot convention center, 30,000 square feet of retail and restaurant space, and improvements to parking garages. It would expand on mixed-use development agreements the city approved in September 2024. The developer is identified in the proposal as DP6 Hotel & CC.
Under the proposed terms, the city and developer would seek state incentives through the qualified hotel project program. Eligible state hotel and sales taxes generated by the project would flow from the state through the city to the developer. The proposal says city funds would not be used for those state incentive payments, and the developer would cover consultant and legal costs tied to the applications.
The city would also provide the developer with 50% of the city hotel occupancy tax collected from the new hotel for 10 years, up to a maximum of $5 million. The agreement would waive half of city development fees for improvements it covers.
The proposal says the hotel and convention center are intended to draw more visitors, meetings and events to the stadium campus. Any grant payments would depend on the project meeting performance requirements and on the applicable tax revenue being received.