[00:00:02]
CREWS ARE PUTTING THE FINISHING TOUCHES ON A VITAL ROADWAY IN NORTHERN FRISCO.
“THE BULK OF THE WORK IS COMPLETED ON UNIVERSAL PARKWAY.” “UNIVERSAL PARKWAY IS A 6-LANE DIVIDED ROADWAY THAT STRETCHES FROM NORTHBOUND DALLAS PARKWAY AROUND TO AN EXTENSION OF PANTHER CREEK PARKWAY THAT’S CURRENTLY UNDER CONSTRUCTION.” THIS STREET WILL BE THE NORTHEAST BORDER OF THE FUTURE UNIVERSAL KIDS RESORT, CREATING AN IMPORTANT EAST-WEST CONNECTION.
THE PROJECT IS ALSO BUILDING A 2-LANE ROAD FROM UNIVERSAL PARKWAY NORTH TO PGA PARKWAY.
"BOTH THESE ROADWAYS PROVIDE ACCESS AND HELP FACILITATE THE INCOMING DEVELOPMENTS IN THIS AREA OF THE CITY.” BUT EVEN WHEN UNIVERSAL PARKWAY IS FINISHED, IT WILL REMAIN CLOSED TO TRAFFIC.
RIGHT NOW THERE WOULDN’T REALLY BE ANYTHING FOR THIS ROADWAY TO CONNECT TO OR FOR IT TO ACCESS.” THE PROJECT TO BUILD PANTHER CREEK PARKWAY WILL CONSTRUCT THE INTERSECTION WITH UNIVERSAL PARKWAY.
“THAT’S EXPECTED TO BE DONE LATE SUMMER OF THIS YEAR AND SO AT THAT TIME THAT’S WHEN WE WOULD ANTICIPATE OPENING UNIVERSAL PARKWAY.” EVERWELL LANE WILL ALSO OPEN IN SUMMER. THE COST TO BUILD THESE 2 ROADWAYS IS ABOUT $34 MILLION, WHICH IS PAID UP FRONT BY THE DEVELOPER.
ONCE COMPLETE, THE CITY WILL REIMBURSE THE DEVELOPER A MAJORITY OF THE COST USING A COMBINATION OF BONDS, IMPACT FEES AND TAXES COLLECTED THROUGH REINVESTMENT ON THE LAND.
“WHEN THIS PROJECT STARTED, IT TRULY WAS JUST AN OPEN EMPTY FIELD AS FAR AS YOU COULD SEE AND WE’VE COME A LONG WAY SINCE THEN AND WE HOPE THAT THESE ROADWAYS WILL MEET THE NEEDS OF THIS PART OF FRISCO FOR A LONG PERIOD OF TIME.”
* This transcript was compiled from uncorrected Closed Captioning.