C
apital Commercial Investments and Streetlights Residential are redeveloping the former JCPenney headquarters in Plano into a mixed-use project called The Park at Legacy. The development will feature luxury apartments, office towers, a hotel, restaurants, and over 20 acres of open space on the 107-acre property. Zoning approval has been secured for the project, which includes up to 750 apartments.

    The residential component, led by StreetLights Residential, will be developed in two phases. The first phase will include 365 luxury units with parks, trails, and a courtyard space, while the second phase will add 385 apartments and feature a water element surrounded by additional trails. This is not the only high-end apartment complex planned for Plano, but it will offer prices starting at $4,000 per month, making it one of the most expensive options in the city.

    Capital Commercial has invested $30 million into site improvements since acquiring the property in 2021. The project's potential was met with opposition during the council vote. As part of its efforts to attract headquarters destinations, the city of Plano often uses economic incentives. For example, Raising Cane's received a $6.2 million grant to redevelop Ross Perot's former Electronic Data Systems campus, and Philadelphia-based Rubenstein Partners is renovating PepsiCo's former office campus with the help of a $1.9 million grant.