Creation Equity’s latest Metroplex mixed-use development takes advantage of an infrastructure project in McKinney that kicked off at the end of last year.
The Dallas-based developer got the greenlight for a $1.3 billion development at the northwest corner of U.S. 75 and the future U.S. 380 bypass that’s currently under construction, the firm said in a news release.
“We actually think the demand is there today, but with what’s happening with 380 and 75, this is just like a perfectly positioned property right in between those two major U.S. highways,” Creation founding partner Bob Agahi said.
It’s partnering with Horizon Capital Holdings and Vaulter on the 155-acre project, called Long Branch.
Plans for the development include 1,600 multifamily units, two six-story office buildings spanning 319,000 square feet, 135,000 square feet of retail anchored by a grocery store, a 100-key hotel and a six-story parking garage.
The office buildings would be perfect for a large user that wants a full-building lease, Agahi said.
“We wouldn’t spec the office; we’d probably wait it out until we could lure an employer or someone that wants its own identity,” he said.
The first phase of the project is currently in the design stage. Infrastructure work at the site is expected to start this year.
The Texas Department of Transportation’s bypass project aims to prepare for future growth in the area by building an eight-lane freeway with frontage roads that extends north from 380 to Bloomdale Road and intersects with 75 before veering south to reconnect with 380 near New Hope Road.
The project route cuts through multiple Collin County communities and has drawn the ire of local residents.
McKinney, which is about 32 miles northwest of downtown Dallas, is one of the fastest-growing cities in the country. Between 2020 and 2023, its population grew nearly 10 percent from 195,300 to 213,500, census data shows.
The growth in McKinney and Collin County has made the town a development hotspot.
SLX Capital is building a $27 million retail development to cater to the area’s growing population; it’s going to be located at the southwest corner of Eldorado Parkway and Stonebridge Drive. Meanwhile, Venu Holding Corporation is moving forward with plans for a $300 million amphitheater development near 75 and State Highway 121.
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