Developers building Plano's $3 billion Legacy West project say it has happened in less the half the time of their most optimistic projections.
"When we started, our aggressive forecast was six years, moderate was seven and the conservative was nine or ten years to build it," said Steve Van Amburgh, CEO of developer KDC, one of the partners in the 255-acre project.
"We have 11 acres left in less than 2.5 years."
"At Legacy West we studied some of the best street thoroughfares in the world," Arena said at a meeting of the Urban Land Institute, the country's largest commercial real estate organization. "We more our less copied the distance at Rockefeller Center where the channel gardens are to try and create more animation and a streetscape."
With apartments leasing up quickly at The Grand at Legacy West, the $3.2 billion mixed-use development — once a vision of Legacy West master developer Fehmi Karahan — is becoming a reality.
And the construction site is still considered a bit of a "war zone," said Robert Shaw, one of the development partners behind Team Legacy, which consists of Karahan and Steve Van Amburgh of Dallas-based KDC.
TXGunLover wrote:Given how terrible the traffic is in the area now, it's going to be non-functional within 18 months of now. It's the worst traffic in all of DFW between 4:45 and 5:45.
The_Overdog wrote:You may perceive traffic to be bad in this area, but it's not near the tops of the list and even if it is for two hours a day, there's 22 other hours when it's pretty empty.
US75 and 190 is the only congested section in Collin County to make the top 100 in TX worst even given TXDoT's questionable methodology. Congestion in this area is nowhere near curtailing its growth.
http://www.txdot.gov/inside-txdot/proje ... dways.html
LEgacy West isn't even open yet. Frisco Station isn't open yet, Wade Park isn't open yet.
Legacy West developer Fehmi Karahan said he's working with Toyota and Chase to form a private partnership to run a bus circulating employees to the shops and restaurants and back to their cars of office.
Also just because they are doing a partnership doesn't mean DART won't be the operator.
Tivo_Kenevil wrote:...Those are some massive garages. I hope they at the very least try to mask them
exelone31 wrote:This article goes into a bit of detail about some of the path's the City of Plano is looking into when it comes to handling the influx (or current mass, really) of traffic.
http://www.dallasnews.com/news/plano/2016/12/26/planos-3-billion-legacy-west-grows-city-officials-want-car-usage-shrink
It seems like nothing has really been decided on this, and it's only a matter of time before things start coming online in this area. I'm sure (hope) there have been more extensive development on the planning side that we're simply not privy to, but that area is going to become a jumble here very soon.
LongonBigD wrote:I have heard that talks between Toyota, Chase and maybe Liberty Mutual have started to discuss transportation which could include shuttles to Parker Rd redline station and a bus system for the immediate area (Legacy West offices and retailers).
http://www.dallasnews.com/business/real-estate/2017/01/03/first-look-redevelopment-plans-penneys-plano-hq
..."There is not another competing Class A corporate campus with this much contiguous space available in North Texas," Ware said. "The intersection of Highway 121 and the Dallas North Tollway is one of the most desired places for corporate relocations in the country." The new owners plan to sell 45 acres surrounding the Penney headquarters for development. "We've already had over 10 offers on the land and over 100 inquires," Ware said. "We have lots of interest from condo, hotel, high-density apartment and office developers...
J.C. Penney will continue to occupy 1.1 million square feet in the buildings. Ware and Colliers are renting 600,000 square feet that the national retailer will vacate, plus an additional 300,000 square feet of office construction in an underused portion of the existing complex.."
LongonBigD wrote:I have heard that talks between Toyota, Chase and maybe Liberty Mutual have started to discuss transportation which could include shuttles to Parker Rd redline station and a bus system for the immediate area (Legacy West offices and retailers).
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