Rosewood Property plans to start a 156-acre mixed-use development in Plano
Dallas-based Rosewood Property Co. plans to start a massive 156-acre mixed-use development in Plano near North Central Expressway and the President George Bush Turnpike that is expected to attract a corporate campus.
Construction on the initial phase of the development, called Heritage Creekside, will begin Tuesday morning. The development includes 327 apartments and 100 single-family homes. The phase also includes three restaurant sites on the east side of the property along Alma Road.
At full build-out, Heritage Creekside is expected to include up to 1,300 apartments, several hundred townhomes and single-family homes, 50,000 square feet of retail and restaurant space, 2.3 million square feet of office space, and a 15-story hotel.
"We believe this is market demand and understand the market forces that will allow this to go forward immediately and to succeed," Rosewood President Bill Flaherty said at the time of the original announcement of the project last October.
Rosewood Property is a subsidiary of The Rosewood Corp., a private investment group owned by the Caroline Hunt Trust Estate.
The tract was acquired by the Hunt family more than 50 years ago. It is bisected by Pittman Creek and contains wooded areas, which will be integrated into the development.
Gateway Planning Group is leading the development plans for Rosewood in partnership with Carbon Thompson. Bury is the engineer working on the apartment development portion of the project. Dowdey, Anderson & Associates Inc. is the engineer working on the single-family portion of the project.
The initial phase of construction on Heritage Creekside is expected for completion in summer 2016.