After owning the land for 50 years, Rosewood Property Company announced this week that they will be developing 156 acres bounded by the George Bush Turnpike, Alma Drive, W. Plano Parkway and Custer Road. Calling it the Heritage Creekside, it will be a mixed use project with office buildings, apartments, houses and retail…possibly even a hotel. Phase I will be 320 apartments.
For the full article in the Dallas Morning News, click on this link.
It will surely be a project that develops over many years. For example, as much as 2.5 million square feet of office space is possible. Little if any of that will be built until tenants are signed. Most office projects won’t start construction until they have 30-50% of the building pre-leased. So if you know any large office users that want a new home, have them call me.