The former JCPenney headquarters in northwest Plano will undergo a massive renovation to turn the site into a new mixed-use community.
Once complete, the Park at Legacy project will feature upwards of 750 multifamily units, five townhomes, five office towers, a restaurant, a 10-story hotel, and 21 acres of outdoor space. The massive five-acre Mendomi Park is also planned, supported by a $15 million donation from Toyota and $4 million from the city of Plano.
The multi-billion dollar project is being led by Capital Commercial Investments, which purchased the site in 2021. Capital Commercial has already invested $30 million renovating an existing four-story building on the property.
Two residential towers will be built at the site, each upwards of 22 stories. Dallas-based StreetLights Residential is developing the luxury units, with rents expected to start around $4,000 per month.
As previously reported in The Dallas Express, when JCPenney moved into its headquarters to the campus for the second time in 2022, it was the biggest office lease of the year. The retailer had temporarily vacated the space during the COVID-19 pandemic. Before that, the company had occupied the space from its construction in 1992 until 2020.
The residential portion of the project will occur in two phases. The initial phase will see 365 residential units constructed along with 8.5 acres of open space. Phase two will see another 385 units built, a four-acre pond, and a 250-room hotel.
The project was only recently given the green light from Plano City Council when they approved a zoning change on November 11. Two of the seven council members, Anthony Ricciardelli and Shelby Williams, voted against the project, saying the plans are inconsistent with Plano’s comprehensive plan.
JCPenney, which filed for bankruptcy restructuring in 2020, continues to occupy 320,000 square feet of space at the campus located at 6501 Legacy Drive.
