High-profile parcel in Plano's Legacy Business Park getting high-rise office, hotel
One of Plano's founding families has decided to convert a high-profile parcel at the Dallas North Tollway and Spring Creek Parkway in Plano's Legacy Business Park into a high-rise mixed-use development.
The Baccus family, in a partnership with Dallas-based Provident Realty Advisors, will begin construction early next year on land they've owned since the mid-1800s to transform it into a high-rise, mixed-use development.
The 37-acre mixed-use developer at the Dallas North Tollway and Spring Creek Parkway will include three office building, up to 100,000 square feet of retail space and a 200-room hotel.
This development, called The Legacy at Spring Creek, is a chance for the longtime Plano family to create a legacy, said Leon Backes, president of Provident Realty Advisors. Show Full Story
"Every major developer in town was interested in this site," Backes said in a statement. "This site is a very high-profile piece of property in one of the hottest markets in the country."
The plans for the 37-acre tract include three office buildings ranging from eight- to 10-stories, totaling up to 2 million square feet with a 200-room boutique hotel and up to 100,000 square feet of retail space. Construction on the initial phase is slated to begin in early 2018.
Dallas-based O'Brien Architects is the architect on the development. Cushman & Wakefield's Chris Taylor, Trey Smith and Ward Eastman are leasing the office space, which is being marketed as a build-to-suit opportunity for tenants seeking at least 75,000 square feet.
Scott Rodgers of DuWest Realty is leasing the retail space in the project. Rodgers says he is in negotiations with more than half of the proposed retail space.
"We're seeing an intense amount of interest in the site, from retail, office and hotel users," Backes said. "This development is closer to the higher-income neighborhoods in Plano, which is especially important for the restaurants and retail."
The Cushman & Wakefield brokers have worked with Backes and his group for the last quarter century, and were happy to help lease The Legacy at Spring Creek, said Chris Taylor, an executive managing director of Cushman & Wakefield's Dallas office.
"The Legacy at Spring Creek delivers everything Corporate America is looking for — walkable amenities and easy access to employees," Taylor said. "We're confident (it) will attract corporate users seeking the kind of environment employees demand today."
The architects have planned on incorporating and building upon an existing grove of trees on the site, to help maximize pedestrian connectivity.
The Legacy Spring Lake will sit adjacent to Randy Heady's newly proposed office building along the Dallas North Tollway.