Developer to convert Texas mall into $1B mixed-use complex

Construction Drive

 

Construction Drive

Dive Brief:

  • 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.

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.

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