Plano Parkway Welcomes New Development

HBW subscribers seeking residential and commercial construction job leads in the DFW Metroplex are very excited about the Rosewood Property Company’s new Heritage Creekside development. Last Tuesday, developers and city officials broke ground on the 156-acre mixed-use development. The site, located between Custer Road and Alma Drive along the parkway, will offer a multitude of single- and multi-family residences, thousands of square feet of office space, and a dazzling array of retail and restaurant options for residents.

The plans for Heritage Creekside swung into action last year, and the zoning for the development was approved by City Council in October. Insiders consider this to be a signature project that will attract upscale residents and businesses to the area. Phase 1 of construction is slated for fall 2015, with the first residential move-ins scheduled for July 2016.

At the groundbreaking ceremony, Plano mayor Pro Tem Lissa Smith praises the development, saying, “What an incredible project … for the gateway to Plano on the southern edge. The development will be one of the most beautiful and unique developments along Pittman Creek,” she adds, “and the mixed-use design will help relieve traffic congesting during the day and provide a beautiful gathering place in the evening.”

Roughly 2.3 million square feet of the Heritage Creekside development is dedicated to office space, which project designers expect to anchor the project. There will be about 1,300 multifamily residential units, as well as several hundred attached and detached single-family houses and townhomes. Residential space will give way to restaurants and retail along Pittman creek, which cuts through the middle of the acreage.

Heritage Creekside will be built in two phase. To the east, Phase 1 will consist of residential and restaurant space and should be completed next summer. 327 multifamily units, 100 single-family homes, and 3 restaurants will wind along the east side of Pittman Creek. Phase 2 will add more single and multifamily housing, millions of square feet of office space, 50,000 square feet of restaurant and retail space, and a 15-story hotel. The bulk of the development will be office space for a large corporation. Developers believe that the residential Phase 1 will drive interest and demand for the retail and office space of Phase 2.

This $900 million project will bring thousands of new jobs to town, which will spur the development of central Plano in much the way that Legacy town Center and downtown Plano have spurred economic growth in other parts of the city. Although Plano residents were generally skeptical about the project, Rosewood held multiple open planning meetings with residents and HOA’s to hammer out their differences regarding traffic congestion and school overcrowding.  The key determining factor in securing resident cooperation is that Heritage Creekside is less of a standalone development, and more of an extension of Plano’s existing neighborhoods.

Rosewood Property Company president Bill Flaherty says, “we took a very active position with the neighbors, and they took an active position with us, and that collision, I think, resulted in really a much better project.” The “bold” mixed-use plan will, Flaherty hopes, “lead others in central Plano, and that idea has gotten us to this day and I think will result in an extraordinary project.”

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