Developers are starting more apartments at Plano’s Legacy West
With more than 16,000 new jobs on the way in Plano’s Legacy West development, builders are scrambling to provide housing, too.
“With all of the employment and thousands of people coming the need for housing is certainly on our minds,” said Fehmi Karahan, the lead developer of the $2 billion, 240-acre project at the southwest corner of the Dallas North Tollway and State Highway 121.
Following JP Morgan Chase’s decision to shift another 6,000 workers to the project, Legacy West is now one of the fastest growth business locations in the country.
Toyota, Liberty Mutual Insurance and FedEx Office are also moving thousands of employees to the development. FedEx has already opened its building and the rest of the major firms will start moving in 2017.
Project developers Karahan Cos., KDC, Columbus Realty and JC Penney are providing hundreds of apartments, condominiums and homes as part of the mixed-use development.
“We definitely see additional need to provide apartments nearby,” Karahan said. “Right now we have 800 apartments under construction.
“And we are planning to build 400 more units.”
The apartments are part of the $400 million Legacy west urban village, which is being built along the west side of the tollway. The mixed-use project also includes 280,000 square feet of retail and restaurant space, 240,000 square feet of offices and a 15-story Renaissance Hotel.
Apartment builder Columbus Realty is developing the apartments on top of and adjacent to the retail space.
Legacy West recently filed plans with the City of Plano to add additional apartments in the project.
Three more residential developments are also in the works at Legacy West.
Dallas-based developer Palladium USA International is planning a 30-story, 312-unit rental high-rise residential building to be built byjust south of S.H. 121.
And a 24-story luxury condo project – Windrose Tower – will contain 95 units.
Austin builder Scott Felder Homes is also constructing a 127-home, urban housing neighborhood next door to JC Penney’s headquarters in Legacy West. The first houses will be ready this summer.
“Having the housing is very important to the employers who are locating at Legacy West,” Karahan said. “Along with the location, it’s the amenities we are providing and the housing that’s attracting them.”