Plano residents get first look at Collin Creek mall redo plan
A developer’s plans to revamp Plano’s struggling Collin Creek Mall would fill out the property with a broad base of housing units, tear down the existing anchor stores and remake the main body of the mall into a boutique retail destination, according to documents filed with the city and an interview with the developer.
“We have some visions we are going to show them,” said Centurion American CEO Mehrdad Moayedi. “It’s going to be a dense project.
“We think we are doing the right thing,” Moayedi said. “This mall has been sitting there not doing anything.”
Centurion American Development plans to work with Plano residents and city planners to refine a redevelopment plan for the more than 1 million square-foot retail project.
Part the proposal includes adding thousands of new residential units – everything form single-family homes to townhouses and apartments.
“To make the retail and restaurants we have planned work, we need the residents there,” Moayedi said.
Centurion American’s redevelopment plan includes more than 500 townhomes and houses and more than 3,000 apartments.
“We are going to have about 450,000 square feet of restaurants and shops,” Moayedi said. “We are going to have a food hall and we are going to have a movie theater.”
There will also be more than 1 million square feet of office space.
“There will be 9.5 acres of parks,” he said. “We are parking everything underground.
“The area will feel open with a lot of pedestrian movement.”
Moayedi said he plans to take a rezoning proposal to Plano’s planning and zoning commission in the next few months.
The company invited several hundred people to its briefing on the development held at the mall.
“I have gotten a lot of calls from people that used to come to the mall and are interested in what we are doing,” Moayedi said.
Built in 1981, Collin Creek mall lost business in the last decades with newer shopping centers and rising digital retail volumes.
Several redevelopment proposals for the high-profile Plano property were floated before Centurion American purchased the mall.
The developer has a track record of doing big North Texas real estate deals.
Centurion American spent more than $250 million to buy and convert downtown Dallas’ vacant Statler Hotel into a combination of apartments, retail space and hotel rooms.
And the company is also renovating the landmark Cabana Hotel near downtown.
Centurion American Development is also a major builder of suburban residential communities.