According to The Dallas Morning News, Centurion American Development bought the 37-year old Collin Creek shopping mall in December of last year and plan to turn it into a $1 billion mixed-use development. The project will include more than 500 townhomes, nearly 3,000 apartments, offices, and about 450,000 square feet of retail and restaurant space. "We've had a lot of positive response," said developer Mehrdad Moayedi. "We had more than 750 people at our meeting and 95 percent of them raised their hands to say they supported the project."
Addison-based Bush Architects did preliminary renderings of the new Collin Creek project showing new residential and retail buildings surrounding a 9-acre central park. "We want to have an area alive with people living there and shopping there and going to restaurants," Moayedi said, Centurion American is already working with the city of Plano to get approvals for its redevelopment plan.
"I'm hoping that we get done with the entitlements by April and start construction sometime this summer," Moayedi said. Built in 1981, Collin Creek mall lost business in recent decades, with newer shopping centers and rising digital retail traffic. Centurion American purchased the mall after other potential development deals didn't get off the ground. The North Texas developer has a track record of doing big real estate deals ranging from downtown Dallas landmark restorations to new residential communities in the suburbs.
Read More
