realestate

Agarwal Group to Develop High-Rise Buildings on Former JCPenney Site

Austin-based firm proposes massive redevelopment of former JCPenney campus in Plano.

C
apital Commercial Investments is revamping the former JCPenney corporate campus in Plano with a massive mixed-use development. The Austin-based firm plans to transform the 97-acre site at 6501 Legacy Drive into a vibrant hub featuring high-rise apartments, office buildings, hotels, and retail spaces. The project includes four office buildings totaling 1.2 million square feet, two luxury apartment towers with up to 750 units, and 425 hotel rooms.

    The development aims to replicate the success of popular areas like Legacy West and HALL Park, offering amenities such as dog parks, sports courts, a 4-acre pond, and 4 miles of walking trails. Since acquiring the site in 2021, the firm has invested millions in upgrades, including recreational spaces and renaming the property "The Park at Legacy." This effort has already attracted several tenants, including JCPenney's return to occupy 300,000 square feet of office space.

    The high-end apartments will cater to Plano's growing demand for luxury rentals, particularly among older residents looking to downsize. However, hurdles remain, with Plano's planning and zoning commission tabling the proposal until October 21 due to concerns over traffic and environmental studies.

Agarwal Group develops high-rise buildings on former JCPenney site in downtown location.