4 Approved Mixed-Use Projects Aim To Make Allen A Corporate Hot Spot
Development along State Highway 121 in Allen is about to explode, with four mixed-use projects ready to begin construction on millions of square feet of new office, retail, restaurant and residential development in the North Dallas suburb.
All of the proposed projects have passed city council and are ready to break ground along the 121 Corridor within the next few years.
The projects come in many forms, from a master-planned community that’s still looking for a developer to a mixed-use community featuring a posh hotel, restaurants and retail.
The endgame is the creation of a series of communities with enough space and amenities to attract large and small corporations alike.
Land owned by Allen's EDC along the 121 Corridor is diminishing. The agency still owns 23 acres set aside for Class-A office, retail, multifamily and hospitality at Stacy Road and 121.
The EDC envisions a future mixed-use project at this site.
Until the EDC finds a developer for the acreage, corporations searching Allen and the 121 Corridor for office space in the future already have four prime sites to choose from.
Monarch City, a master-planned community designed by The Howard Hughes Corp., is now up for sale. The only catch? It isn't developed yet.
After obtaining zoning for 230 acres bordering U.S. 75 and State Highway 121 in Allen, Howard Hughes put the development and all of its approved zoning up for sale.
JLL brought the project to market last week. Any developer that acquires Monarch City will take over Howard Hughes' plan for 10M SF of multifamily, office, retail and hospitality development. All the site needs now is a new developer to launch construction.
Allen Gateway At Twin Creeks
The 75-acre Allen Gateway at Twin Creeks project along the 121 Corridor is ready to launch.
David Hicks Co. and the landowners Hicks represents obtained approval to build out high-quality office, hotel, retail and apartment assets at Highway 121 and Ridgeview in Allen.
Developers intend to break ground in the coming months on a 12-story office tower developed by Cope Equities, a 12-story Plush Suites extended-stay hotel and the first phase of 1,700 urban residential apartments.
The project also is looking for a multifamily partner to construct four phases of urban residential product. Hicks hopes to start with 400 apartments this year and build up to 1,700 units over time.
Expected to break ground later this year, Thakkar Developers’ The Avenue project will bring 1M SF of office, 65 single-family homes and 1,600 apartments into the corridor.
The site sits on 80 acres at the corner of State Highway 121 and Alma Road.
The project will be developed around an outdoor plaza featuring a container park, water features and a food hall.
Once complete, the community will offer 275K SF for retail, restaurant and entertainment concepts.
The Former Hinges Project
A 135-acre mixed-use project off Alma in Allen is close to redevelopment after a new developer took hold of the project this year.
The space is zoned for 1.5M SF of office and mixed-use product.
Formerly known as The Strand, the project was originally in the hands of Hines, and Bowman said a new developer is close to announcing its involvement in the project.
Preliminary plans call for a central park inside the site, connected by a series of hike and bike trails.