News Flash Home
The original item was published from 12/15/2020 11:40:24 AM to 12/15/2020 1:17:07 PM.

News Flash

Economic Development

Posted on: December 15, 2020

[ARCHIVED] Allen economic development speeds forward, despite pandemic

In an annual award presentation to developers and business owners, Allen Economic Development Corporation showcased the City's present and future growth.

Executive Director and CEO Dan Bowman reviewed plans for Allen’s two major employment corridors located along US-75 and SH-121.

Watters Creek District

The Watters Creek District, located along US-75 at Allen’s southern border, welcomed a new Class A office tower in August 2020 with the opening of One Bethany West. Anchored by Highlands Residential Mortgage and Micron Technology, the premier office suite has 8,000 square feet of spec suites under construction, with floors 4-7 available for a larger tenant.

The thriving One Bethany campus offers direct connectivity to mixed use retail, restaurants and living space, along with the four-star Delta Hotels by Marriott Dallas Allen and Watters Creek Convention Center. Two properties owned by Allen EDC—known as One Bethany North and One Bethany Central—remain ready for build-to-suit development to specifically meet a company’s needs.

On the southern end of the Watters Creek District, the Allen Tech Hub is preparing to offer 105,000 square feet of office space. A new restaurant and dog park, Mutts Canine Cantina, will be built next door with a groundbreaking expected in early 2021.

SH 121 Corridor

On Allen’s northern border, numerous large-scale developments are taking shape with four major projects receiving zoning in the last 12-18 months. This includes Monarch City, The Farm, The Avenue and Allen Gateway.

“This means you don’t just have green field sites with no plans,” explained Bowman. “You have, in fact, very well thought out plans that include office space, retail and restaurant. And it’s already zoned and ready to go so they could deliver to the market quickly.”

Future projects include:

  • Monarch City: This landmark development at the southwest corner of US-75 and SH-121 is expected to offer 4 million sq. ft. of office space, 1 million sq. ft. of retail space, 750 hotel rooms and a large swath of interconnected lawns, trails and fountains. "You have so many of these developments that are covered in concrete with a lot of hardscape," said Bowman. “But you can see, [this project is] very much focused on this enormous central park with open space.”
  • The Farm: Planning to break ground in first quarter of 2021 to install the necessary infrastructure, this high-energy development is set to include 1.7 million sq. ft. of office space and 200,000 sq. ft. of retail space spiraling around a large lake and park. One of the most exciting amenities is the The Hub entertainment district, with a large lawn, patio restaurants and stage for live music.
  • The Avenue: Thakkar Developers worked closely with Allen neighbors to develop the concept for The Avenue. The space is zoned for offices, retail and hotel space, with possible amenities to include a food hall and central entertainment space.
  • Allen Gateway at Twin Creeks: Though a smaller site overall, this site is home to some of the most attractive topography in Allen. Two projects are already committed to the site, including the 12-story COPE Tower with offices and top-floor luxury residences. Plush Suites Hotel, a luxury extended stay hotel chain, expects to break ground in 2021.

The SH-121 corridor is also home to the Allen ISD Steam Center and Collin College Technical Campus, which opened in Fall 2020 and serves 7,000 students. The four-building campus for technical and career education is a critical support for local businesses, who are looking for employees that meet their specific needs.

“Yes, there’s been a pandemic but yes—Allen, Texas is open for business,” said Bowman. “We are going to see a number of new projects break ground in the coming years.”

Facebook Twitter Email

Other News in Economic Development