The former J.C. Penney headquarters in northwest Plano will undergo extensive renovations that will turn the site into a new mixed-use community.
Once completed, the Park at Legacy project will include more than 750 apartment complexes, five townhomes, five office towers, one restaurant, a 10-story hotel, and 21 acres of outdoor space. A sprawling 5-acre Mendomi Park is also planned, with 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 to renovate an existing four-story building on the site.
Two residential towers of 22 stories each will be built on the site. Dallas-based Streetlights Residential is developing the luxury units, with rent expected to start at about $4,000 per month.
As previously reported in the Dallas Express, when J.C. Penney moves into its headquarters campus for the second time in 2022, it becomes the year’s largest office lease. The retailer had temporarily vacated the space during the COVID-19 pandemic. Previously, the company occupied the space from its construction in 1992 until 2020.
The residential portion of the project will be done in two phases. In the first phase, 365 residential units will be built along with 8.5 acres of open space. The second phase will include an additional 385 units, a four-acre pond, and a 250-room hotel.
The project was only recently given the green light when the Plano City Council approved a zoning change on Nov. 11. Two of the seven City Council members, Anthony Ricciardelli and Shelby Williams, voted against the project, saying it conflicted with Plano’s comprehensive plan. .
JCPenney, which filed for bankruptcy reorganization in 2020, continues to occupy 320,000 square feet of space on the campus at 6501 Legacy Drive.
