Construction Drive
Dive Brief:
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Centurion American Development Group, the new owner of the Collin Creek Mall in Plano, Texas, has revealed its plans for the property’s conversion to a $1 billion mixed-use development, The Dallas Morning News reported.
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Bush Architects in Addison, Texas, has created a master plan rendering of the new complex, which is slated to include 500 townhouses and single-family homes, almost 3,000 apartments, offices and 450,000 square feet of retail and restaurants, with a nine-acre park at the development’s core. The project will consist of some demolition, new construction and the renovation of portions of the existing property.
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Centurion officials told The Morning News that the Plano residents with whom they have been in contact are on board with the project, even if it is high-density. The company must still secure city zoning approval.
Dive Insight:
Centurion’s plan is far from a novel approach to vacant mall properties. It’s representative of a trend that is widely considered to be a result of the rise in the popularity of internet shopping, providing commercial renovation contractors with plenty of work.
