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East Plano to get a $900M mixed-use project


New East Plano Project

Rosewood Property will be building a high-density mixed-use development on 156 acres off of Bush Turnpike between Custer Rd and Alma Dr (which is Plano zip code 75075).

The project will be known as  HERITAGE CREEKSIDE and will be just west of North Central Expwy and the new City Line State Farm Insurance regional campus in Richardson.

Rosewood Property will start with a 320 unit apartment complex and three restaurants that back up to Pittman Creek according to Bill Flaherty President of Rosewood Property.  Additionally there will be a residential development after the apartment complex is built out. This is on the east end or Alma Dr section of the Heritage Creekside development.  The apartment complex will be built by developer Carbon Thompson Realty with 320 apartment units, plus three restaurants and retail  backing up to Pittman Creek.

Green Brick Partners, a Plano based real estate firm,  has purchased 17.3 acres from Rosewood to build 135 home sites  at Heritage Creekside.  David Einhorn, President of Greenlight Capital Inc  is the Green part of Green Brick Partners and Jim Brickman CEO Green Brick is the Brick part of the GREEN BRICK PARTNERS.

NOTE:  GREEN BRICK owns a controlling interest in four homebuilding companies in North Texas which includes CB JENI Homes, Normandy Homes, Centre Living Homes and Southgate Homes.

On the west end of the development along Custer Rd and Plano Parkway, Rosewood plans to build an office campus with six-story to 20-story buildings.  When built out this will be around 2.5 million square feet of office space added to the corporate business campus community of North Texas.  And in the planning stage is the possibility of a 15-story hotel which will feed off the business travelers coming to work with businesses located in Heritage Creekside campus.

The term mixed-use urban development term is appropo for  Heritage Creekside development which will use the topography of the creek  will be a destination feature. All of this planning for the development is being done by Gateway Planning Group which has worked with Rosewood to design Heritage Creekside.

TAKEAWAY: Heritage Creekside is the largest such undeveloped property in North Texas owned by Rosewood which is a private investment firm owned by the Caroline Hunt Trust Estate.

About Jerold Smith

From 35 years in the corporate world to a full-time Broker & REALTOR® for the last 15 years, I know real estate. I share my extensive knowledge and expertise with buyers, sellers or investors, personally. I am a NATIVE TEXAN and know the local market better than anyone else. Any questions? Just ask.

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