As of Wednesday, Collin Creek Mall in Plano has officially closed its stores. The longstanding mall served as a retail staple in Plano since it opened in 1981, but over the course of the past decade, the number of shoppers in the mall began to decline. Now, construction will begin on $1 billion revamp to turn the desolate mall into a full-fledged mixed-use development where Plano residents can work, live and play.
“This is the era of Plano 4.0," said Plano Mayor Harry LaRosiliere in a press conference which took place at Collin Creek Mall's farewell party. "It’s a regeneration and a rejuvenation of our city.”
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Now that Collin Creek Mall is officially closed, Centurion American plans to begin the first phase of construction within the next 30 to 45 days, according to Mehrdad Moayedi, President and CEO of Centurion American.
During the first phase, Amazing Jake's, Sears, Macy's and Dillards will be demolished. The parking lot will also be reconstructed in order to make room for an underground parking lot. Construction will also begin on the new single and multi-family units. Phase one is slated to take two years.
While there is currently no concrete schedule for what's to take place in the subsequent phases, Collin Creek will be comprised of 8.6 acres of green space, 1.5 million square feet of office space, a luxury hotel and multiple dining and retail options.
Once a comprehensive shopping mall, Collin Creek Mall will simply be known as Collin Creek, which refers to the shopping and business district as a whole.
While the Collin Creek revamp project is slated for completion five years from now, LaRosiliere believes it will put Plano's downtown district on the map.
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“With Collin Creek, Plano will have one of the premier downtowns in America," LaRosiliere said, before humorously telling Moayedi "The only problem I have is how long it’s going to take. I’m going to be out of office by then, so you’re going to have to work a little faster.”
"We owe it to him," Moayedi replied.
