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Dreien Opportunity Funds is withdrawing its plans to build multifamily at The Campus at Legacy West.
The developer had received a special use permit from the Plano Planning and Zoning Commission to build the former J.C. Penney campus' first multifamily units. The plan should resurface down the road: Dreien owner Sam Ware told D Magazine, “we felt it best to withdraw and tweak concerns and come back at a later date.”
The regulating board of Legacy Business Park, the Legacy Association had come out against the multifamily component. Its board of directors president, Fehmi Karahan, told D CEO: “Our view, my view, and the board’s view is that what made [Legacy Business Park] so successful needs to remain that way. We do not support mixing residential developments within the business park.”
Dreien purchased J.C. Penney's 1.8M SF headquarters in 2016 and announced plans to redevelop it with retail, a hotel and more than 1,000 apartments.
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