One of Plano’s last pieces of undeveloped prime real estate will go before city council Monday night for a potential rezoning.
Right now, more than 200 acres around J.C. Penney’s corporate headquarters sit undeveloped.
However, plans are in the works to create a new mixed-use urban style development called “Legacy West”, much like Legacy Town Center.
The land is currently zoned for commercial employment.
The rezoning request would change it to a central business district, or a more urbanized, pedestrian-friendly zone.
“It is a first step in trying to mold the ultimate development,” said Phyllis Jarrell, Plano Director of Special Projects.
However, Jarrell said the city has not received any concrete plans or proposals to its planning department about Legacy West as a whole.
They are reviewing a 19 acre tract in the same area submitted as a new corporate headquarters by FedEx.
Still, developer, The Karahan Companies, released several renderings to NBC 5, showing a multi-story hotel, as well as apartments, restaurants, office towers and green space as part of their vision.
The same developer was also involved in creation of Legacy Town Center, the mixed-use development just across the Dallas North Tollway from the potential new site.
“The demand for downtown Plano, the Shops at Legacy is fantastic – there really is not enough inventory to meet the demand,” said Marvin Jolly, president of the Collin County Association of Realtors.
“We’ve got young professionals, in their first or second careers, and we’re also seeing some empty nesters.”
J.C. Penney announced in February 2014 that it plans for the land, which it purchased in 1987, to become developed over the next several years.