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.
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.
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.
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.