A major re-use of an old fire station and library keys the city’s plan to create a more active downtown.
ALLEN, Texas — This article was originally published in the Dallas Business Journal. Read the original article and more business content here.
Downtown Allen will soon look a lot different after city officials approved an agreement to begin the first phase of a major rejuvenation.
The Allen City Council on March 10 approved agreements with Rough Creek Capital Services LLC, Allen Economic Development Corp. and the Allen Community Development Corp, clearing the way for redevelopment of the three-block district at the northwest corner of Allen Drive and McDermott Drive.
Plans call for converting one of Allen’s first libraries and the city’s original fire station into restaurant and retail space. Overall, the project will feature a $3 million park, a stage and about 20,000 square feet of commercial space, including a two-story building with a rooftop patio.
The downtown project is expected to cost about $17 million. The city will fund half of the project, about $8.5 million. Under the agreement, Rough Creek has a three-year option for development of future phases and a one-year right of first refusal.
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