Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Wednesday, May 07, 2014
Landing Toyota headquarters has pushed up the timetable for Plano’s Legacy West project
Toyota's North American Headquarters will be next to FedEx Office's new campus just south of S.H. 121. (Karahan Cos.)
Last month when developer Fehmi Karahan told me his new Plano project would be bigger than anything in the area, I should have listened.
Karahan – who built the wildly successful Shops at Legacy on the Dallas North Tollway – isn’t the kind of guy to make promises he can’t keep.
But even Karahan admits he didn’t see Toyota Motor Corp. on his radar for the 240-acre Legacy West project he’s building at the tollway and State Highway 121.
“We were talking to a big company,” Karahan said. “But nobody knew who it was.
“We were just told it was a big global company.”
Yep, that just about describes Toyota, the worlds biggest automaker that’s putting its North American headquarters in Legacy West on more than 70 acres at the corner of Legacy and Headquarters drives.
It’s right across the street from where FedEx Office will have its new headquarters.
Between Toyota and FedEx Office, more than 5,200 corporate office jobs will be coming to the project, which surrounds J.C. Penney’s headquarters.
Karahan Cos. is building the $2 billion Legacy West in partnership with developer KDC and apartment builder Columbus Realty.
“It’s going to happen very quick,” Karahan said. “Toyota is going to break ground before the end of the year.
“There is unbelievable momentum.”
Karahan and his partners are rushing to kick off the rest of the project too, including a high-rise hotel and luxury apartments.
“Both FedEx and Toyota looked at our complex and loved the mixed-use we are offering,” he said. “It was very important for them to have a residential component and hotel.
“They want to their employees to have access to easy housing nearby,” Karahan said. “We are going to start our portion of the project quickly.”
Along with apartments and hotel rooms, the developers are working on plans for additional retail space.
“We are talking to a number of other large corporates that also have tremendous interest,” Karahan said. “We want to give great amenities to support all of this.”