Once Legacy West is completed, it’s projected to have a daytime population of more than 15,000, along with 5,000 residents—all of whom will have plenty of places to shop, dine, and drink. The project’s 280,000-square-foot retail component is being developed by The Karahan Cos. Fehmi Karahan, president and CEO, says the retail off erings will include “bigname brands” and round out the development’s offi ce and residential segments. “The retail and multifamily come together on the principle of work, play, live,” he says. “That environment is what everybody wants to have.”
Karahan knows what he’s talking about. After all, he led development of the ground-breaking Legacy Town Center, the first and one of the most successful suburban- urban developments in the country.
Legacy West also is getting an $82 million Renaissance hotel. The 300-room property will include 26,000 square feet of conference space. Funded by the Sam Moon family, it will be adjacent to retail and residential buildings and sit along the Dallas North Tollway.
Like Legacy Town Center, Legacy West—a walkable destination near the intersection of two of the region’s two busiest roadways—will rival Dallas’ Uptown and other urban districts. “Just imagine what it will be like in 2017 when all of these buildings have mushroomed up,” Karahan says. “The entire project truly will be unlike anything North Texas has ever seen.”
Situated near the southwest corner of State Highway 121 and the Dallas North Tollway, Legacy West also offers easy access to these nearby retail developments.
LEGACY TOWN CENTER
The idea for this 150-acre mixed-use development was hatched in the late 1990s, with RTKL handling the masterplan, Lincoln Property Co. handling office development, and The Karahan Cos. overseeing the retail component, The Shops at Legacy. Construction began in 1999, and the first phase delivered in 2000 and 2001. Just east of Legacy West, across the Dallas North Tollway, Legacy Town Center boasts 600,000 square feet of retail and restaurants. It’s estimated that 4 million people visit each year.
To the east along State Highway 121 at Preston Road in Frisco, Stonebriar Centre set retail records when it opened in August 2000. Boasting more than 1.6 million square feet, with more than 150 tenants, Stonebriar has six major department store anchors, a movie theater, and a variety of restaurants and other retailers. The mall—and its retail tax proceeds—helped jump-start economic development and growth in Frisco, a city that saw its population grow from about 35,000 in 2000 to nearly 146,000 in 2015.
THE SHOPS AT WILLOW BEND
This upscale, 125-store shopping destination at the Dallas North Tollway and West Park Boulevard in Plano opened in 2001, catering to the area’s affluent shoppers. At 1.5 million square feet, The Shops at Willow Bend is anchored by three department stores and has a reputation for being highly selective in its tenants. Last year, Michigan-based Taubman Centers Inc. sold The Shops at Willow Bend, along with seven other shopping centers, in a $1.4 billion sale, transferring ownership to Chicago-based Starwood Capital Group.
NEBRASKA FURNITURE MART
Having opened only three locations before entering the Dallas-Fort Worth market, Berkshire Hathaway-owned Nebraska Furniture Mart made big news in 2011 when it acquired 433 acres at State Highway 121 and Plano Parkway in The Colony. The 560,000-squarefoot store, slated to open this spring, will employ around 2,000 workers and is expected to attract as many as 10 million visitors a year.