COLLIN CREEK DEVELOPMENT
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.
The concept plan, submitted to the city on Dec. 27, offers the public its first look at what Farmers Branch-based developer Centurion American plans to do with the properties it purchased last month. Parking lots surrounding the mall’s main structure would be filled in with two 15-story office buildings, a movie theater, a hotel and music venue and a mix of housing units and city park space, plans show.
“What makes these old sites work is the density of residential [units], and the people on site that can, on a day-to-day basis, go to Starbucks, go to the restaurants,” Centurion American President Mehrdad Moayedi said. “We’ve got a lot of things that need a constant customer base, and you can’t expect people to do that during the week unless they live there.”
Moayedi said he plans to heavily renovate the interior area of the existing mall and fill it with high-end boutique retailers. He added he hopes to attract these retailers in the early stages by offering to assume part of the risk of renting.
The residential communities in the plan are expected to include a variety of single-family homes and townhouses on the west side of the mall, with a handful of urban-style apartment buildings located immediately around the central building. Most of the parking would be located in underground facilities, Moayedi said.