The new $1.3 Billion mixed-use phase of development is beginning at Legacy West, Plano. It’s not a surprise that this already successful but newly opened mile-long project is expanding so soon. It’s big but things tend to go bigger in Texas. It’s how we are. It’s what we do, and we do it better than pretty much anyone else. To prove it, you only need to look back at the (loosely told) history of how the population grew in our wonderful city of Plano as an example of what we mean.
Founded in 1873 and named after the Spanish word for ‘Plain’ (which apparently described its terrain), the population nearly tripled at the beginning of the 1900s going from over 1300 people to about 3600. Fast-forward to 1970 and we were at a little over 17,000 residents. When it was time to welcome in the new millennium 220,000 Plano residents looked for someone to kiss or prayed all the computers in the world didn’t break down.
Last year we were at over 280,000 people.
We sure know how to grow a city, don’t we?!
It’s no wonder then, that when Plano decides to approve the plans for a development project the likes of which it’s never seen before, you better believe it was going to be big. Five years ago that’s exactly what happened when the development project of the 250-acre Legacy West, Plano was announced, at a price-tag of $3 Billion. $6 Billion later, we have the incredible city within a city that draws tens of thousands of people every week and the largest, most successful mixed-use development in North Texas.
It’s also the place we McCoys call ‘home’.
The Story Behind the Project
One of the reasons we Texans are so good at being big is that we do it with intelligence and good strategy.
Take for instance this new $1.3 Billion development happening at Legacy West now. Here’s where good strategy and planning ahead is being applied in a way that makes good business sense for everyone involved. While looking at what to build on the vacant block at the north end of the Legacy West Urban Village, at Headquarters Drive and Windrose Avenue, the idea was to build out more retail space and maybe a boutique hotel. The new plans, however, call for a combination office, retail, and apartment building instead.
“We decided to increase the office component instead of a hotel,” developer Fehmi Karahan said. “Building the office makes more sense.”
See what we mean…strategy!
Designed by Gensler Architects, the project will include almost 87,000 square feet of office space and more than 24,000 square feet of ground-floor retail. There will also be a large parking garage.
On the west side of the building, facing Communications Parkway will be five stories of apartments — 161 units.
“They will be a higher-scale, upgraded apartments,” Karahan said.
Karahan Cos. is building the project in partnership with Columbus Realty, which has built the rest of the apartments in Legacy West Urban Village.
The developer has already leased out more than 200,000 square feet of office space in the project, with major tenants including Boeing, Toyota Connected and WeWork.
The next phase also includes a large parking garage, the report said.
Plano’s parks and recreation department also went before the city council with a proposal for an updated master plan that included a recommendation for a deck park over the Dallas North Tollway.
The park would bridge Legacy West and Legacy Town Center and “would create usable park space and create safer pedestrian connections in a highly developed area, similar to the Klyde Warren deck park in downtown Dallas,” according to the master plan.
What It All Means
Personally, we can’t wait for this new development phase to happen. More businesses mean greater stability for the area. This development is definitely worth completing!
We’re drawing in major companies with the likes of Boeing, Fed-Ex, and Toyota plus the addition of Japanese based firm coming to Legacy West. This allows us to stay ahead of the rest of the country economically and helps raise up our already incredible school system from its tax base.
We think great things are in store for Plano and we are enjoying every moment of living in such a wonderful city with such a colorful history and an incredibly bright future.
References and exerpts:https://www.dallasnews.com/business/real-estate/2019/01/10/new-mixed-use-project-set-start-planos-3-billion-legacy-west https://tshaonline.org/handbook/online/articles/hdp04