An 8.7-million-square foot residential, office and retail development in Allen now has a name.
“Monarch City” is being built on 270-acres in the southwest corner where Texas State Highway 121 and U.S. 75 intersect. Dallas based developer Howard Hughes Corporation is behind the project and said it will be built with a ‘live, work, play’ model in mind.
“We will have a place where there will be main street retail, office users and multi-family users can literally come out of their place and have breakfast, lunch and dinner there,” Mark Bulmash, Senior Vice President for Howard Hughes Corporation said.
Developers said about half of the 8.7-million square feet of space will be used for offices with DFW real estate firm JLL leading office leasing for the project. The site will also have substantial green space and a luxury hotel.
“I honestly feel like I’m pleasantly surprised, it could have been industrial space, it could have turned into some other space but hopefully it’s something my family can go to,” said Amy Hall, a neighbor who lives less than a mile from the development.
Developers hope to break ground in the next year and expect the full build out to take seven to ten years.
“We think because we are creating an urban site we will be an appealing place for millennials as they start forming families and moving to the suburbs,” Bulmash said.