A rendering of StreetLights Residential’s planned apartment and townhome development in Plano.
Courtesy of StreetLights
Dallas-based StreetLights Residential plans to develop a 22-story luxury apartment tower and three adjacent townhomes at the former JCPenney headquarters in Plano.
Construction is expected to begin this month. The tower will include 261 apartments with one-, two- and three-bedroom units ranging from 682 square feet to 2,843 square feet. The three townhomes are roughly 3,300 square feet and feature three bedrooms and 3½ bathrooms.
Construction is expected to finish in February 2029. Other amenities at the site include a three-tiered, resort-style pool with private cabanas and TVs, a golf simulator, fitness center, sunroom, 24-hour concierge and weekend valet service.
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“This project introduces a level of quality and design that has not been seen before in the suburban Dallas market,” said Greg Coutant, senior vice president of development at StreetLights Residential. “Gracefully situated between leisure and luxury, we’ve tailored every aspect of the building to an established demographic seeking a refined, maintenance-free lifestyle with immediate access to the experiences they value.”
The former headquarters, built for the department store chain, was the largest empty office block in the northern suburbs at one point. Austin-based Capital Commercial Investments purchased the roughly 107-acre property in 2021 with plans to renovate the landmark property.
StreetLights purchased nearly 3 acres of the large campus last week for the apartment and townhome development.
The campus is surrounded by the multibillion-dollar Legacy West mixed-use development, which is home to companies including Toyota, JPMorgan Chase, Liberty Mutual Insurance and FedEx Office.
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Mansfield home development
Realty Capital Management is progressing on a development in Mansfield called Westhill Park.
Realty Capital Management
A development set to have about 600 homes started construction on the western side of Mansfield.
Realty Capital Management is progressing on Westhill Park, an upcoming development at 1791 Newt Patterson Road in Mansfield.
Tim Coltart, a managing director at Realty Capital, said construction started this spring and lots are set to be delivered to homebuilders in the spring of next year. He said the grading is almost finished at the site and is the installation of utilities is starting. The first phase will include lots for about 200 homes.
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Home prices for the development will likely range from $650,000 to about $1.5 million, Coltart said.
An initial part of the project — including grading, wet utilities and paving — will cost $19 million, according to a June filing with the Texas Department of Licensing and Regulation. Coltart said he estimated the project would be worth about $500 million once it is complete.
The project started to take shape a few years ago as Mansfield was looking for ways to develop on the western side of the city, he said.
The city of Mansfield also announced the purchase of a 100-acre property in 2024 that would be designed as a park in conjunction with the project. Coltart said the park and connection to the city’s trails were important features of the project.
“Every home will be within maybe 600 feet of a hike and bike trail that connects to all of Mansfield’s fabulous regional trail network that they call the Walnut Trail,” Coltart said.
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Cedar Springs site trades hands
A 1.28-acre site on Cedar Springs Road has changed hands.
KC Turtle Creek Owner LLC acquired the site at 3601 Cedar Springs Road from seller Bill Y Bob Partners LLC.
Plans for the site were not disclosed, but current zoning allows a maximum height of 240 feet. Apartment, office and hotel uses are possible.
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JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by managing director Jonathan Carrier, senior managing director Michael Swaldi, executive chairman Jody Thornton and associate Adam McDaniel.