According to The Dallas Morning News, Frisco Mayor Jeff Cheney’s critics say his exclusive knowledge of the Fields project gives him an advantage that’s potentially causing others to lose out on what could be hundreds of thousands of dollars in commissions. The mayor rebuked these criticisms in a statement to Local Profile.
Mayor Cheney’s job is not only city service, he also leads a real estate brokerage that’s sold more than $1 billion worth of homes.
Some real estate agents are claiming that Cheney has an unfair advantage in the recent Fields development due to his standing as mayor and alleged exclusivity. But Mayor Cheney called any allegations “not true.”
“I am not the listing agent for this development,” Mayor Cheney told Local Profile. “We represented buyers on this project that contracted directly with builders, as did many other brokers. The developer sold their lots to builders who independently marketed their homesites as they chose.”
“This is nothing more than election season political mudslinging,” Mayor Cheney added.
In response, Fields developer Karahan backed Mayor Cheney’s statement against the allegations.
“Fields is 2,500 acres development with mostly commercial-zoned land,” Karahan told Local Profile. “We do not have and never had any listing broker not for any of our residential land nor for any of our commercial land. We do not sell any residential property to any individual and never sold. No group, no agent, no broker represents any of our land holdings.”
“It is so unfortunate that some folks for whatever reason creating fictional rumors,” Karahan said. “There is no exclusive information of any sort nor any exclusive representation.
According to The Dallas Morning News, Mayor Cheney fueled conjecture about his involvement in Fields. In a video posted on Oct. 16, 2022, on the Cheney Group's YouTube channel, Mayor Cheney stated that his company had spent hundreds of hours with the builders.
Frisco’s code of conduct says as long as elected leaders abstain during voting and decision-making processes in which they have a private interest and properly disclose conflicts, they’re free to do business in the city.
The Fields development covers about 2,500 acres of land. The land comprises various amenities such as golf courses, luxurious residences worth millions, shopping centers and also the upcoming Universal theme park. The prominent developers, Fehmi Karahan, the mastermind behind Legacy West, and Dallas-based Hunt Realty lead the project.
The Preserve is the most noteworthy residential area within Fields, occupying about 270 acres, between the PGA's golf courses and Legacy Drive. It is anticipated that this neighborhood will display some of the most expensive homes in North Texas, with the construction of homes costing upward of $15 million.
Mayor Cheney approximated that his company has pledged lots to around 30 clients in the first phase of The Preserve. The additional 95 acres will host approximately 150 more homes that have yet to be sold.