New Land Purchase
Holy Ground 2014
First Frisco has had a unique opportunity to purchase 6.5 acres of additional land (outlined in BLUE below), adjacent to our prior property (outlined in RED below), a portion of which is Preston Road frontage. The cost for this property is $3,397,680. We obtained a loan through the Texas Methodist Foundation with the stipulation that we conduct a capital campaign to pay for the land during the course of a three-year capital effort.
Our hope is to build additional facilities when we pay for the costs related to the new land purchase. During the next three years, an appointed Building Committee will hire an architectural firm and complete the master planning process, incorporating the new land into our plans for the future. Once that process is completed, the Building Committee will make a recommendation about what portion of the master plan we should build first. We hope to be ready to break ground on Phase 1 of the new master plan in 2017.