Plano North | June 2025

Development

BY JACQUELYN BURRER & MICHAEL CROUCHLEY

Legacy West bought in $785M deal Kite Realty and Singapore-based invest- ment company GIC acquired Legacy West in late May for $785 million, according to a news release from commercial real estate company Prism Places. The details Kite also owns The Shops at Legacy, a shopping center across the tollway from Legacy West.

Collin Creek Mall redevelopment pauses The redevelopment of Collin Creek Mall is expected to be delayed by at least one year due to errors in floodplain modeling, according to Plano Director of Engineering Caleb Thornhill. What you need to know On June 9, Plano City Council approved a drainage analysis contract for Spring Creek and its surrounding watershed from 15th Street to Plano Parkway after the city identified errors in the previous Federal Emergency Management Agency (FEMA) floodplain modeling. Thornhill said although the design indicated there would be no negative impacts, the discov- ery of the flawed data required the model to be updated before moving forward. Work on the culverts was initially completed earlier this year, Plano Director of Special Projects Peter Braster said. After the culvert updates were

E. 15TH ST.

CENTRAL CIR PKWY.

completed, the new model showed the culverts were overtopping south of 15th Street, which presents a potential flood risk, and some nearby properties now fall within the floodplain, Thorn- hill said. “In order to make this as safe as possible for everybody, we’re going to relook at the entire Spring Creek through this area,” Thornhill said. The next phase will require new design plans and approval by council. The contract will cost $659,101, and Thornhill said the setback should not divert funds from other projects.

Legacy West unequivocally represents a pivotal step forward for [Kite Realty Group].” JOHN KITE KITE CHAIRMAN AND CEO

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PLANO NORTH EDITION