What comes after the mall Plano launches $ 1 billion worth of Collin Creek development

With fireworks and fanfare, Plano officially started construction of its $ 1 billion Collin Creek project on Friday.

The 100-acre mixed-use project that will replace the failed Collin Creek Mall has been in the works for more than two years.

With most of the old enclosed mall demolished, Plano officials and the Centurion American Development Group are ready to begin rebuilding.

“We are ready to see the progress that everyone in Plano has been waiting for,” said Mayor John Muns. “It was of course a complicated thing to do when you wanted to renovate an existing property and do new things.

“This will be a destination for so many people, whether for shopping, dining or living – this will be the hallmark of this southern section of the Central Expressway corridor,” he said. “We can’t wait for it to be done.”

In the first construction phase, a huge underground car park is being built in the center of the property sponsored by the city of Plano.

Home builders are also starting work on the first of 500 luxury townhouses to be built on the west side of the old mall.

Part of the central area of ​​the Collin Creek shopping center will be converted into new retail and restaurant space. Other parts of the property are used for apartments, additional restaurants and retail stores, offices and open spaces.

“Collin Creek will offer one of the leading mixed-use developments in North Texas right at the southern gateway to our city,” said Muns. “With many former regional malls across America lying idle and vacant with little or no hope of renovation, the City of Plano worked with the developer to fully fund the Collin Creek remodeling.

“Few cities have accomplished this feat.”

Collin Creek was once one of the busiest malls in North Texas, dominated by the department stores JC Penney, Sears, Macy’s and Dillard’s. But the mall lost business as newer retail stores opened in the area and consumer shopping habits changed.

Centurion American bought the 37-year-old regional mall in 2018 and has been working on planning, redesigning, and funding the huge remodel ever since.

Last year most of the plots were cleared for the new building.

“That day has been a long time coming for us,” said Mehrdad Moayedi, CEO of Centurion American. “We’re really excited to transform this place into what we’re actually planning – residences, restaurants, retail and everything else.”

Moayedi said it will take approximately 24 months to complete the first new sections of Collin Creek.

“The townhouse lots will be ready in about 12 months, and then these builders will start,” he said. “The connected multi-family house operation will begin after the multi-storey car park has been completed.

“About 800 apartment buildings will be put into operation,” said Moayedi. “We will have new retail stores on the first floor and four floors of apartments on top of that.”