Monday, November 24, 2014

Plano project plans office buildings, apartments, retail near Bush Turnpike

  /Billingsley Co.
Beacon Square will have six office buildings.

Developer Billingsley Co. is planning a Plano mixed-use project that would include a half-dozen office buildings, more than 1,000 apartments and townhomes, and retail space, all near Bush Turnpike.
The 86-acre Beacon Square project could kick off as early as next year at a site just west of Coit Road.
Billingsley received approval last week for the huge development from the Plano City Council.
The first phase of the project would include 482 apartments, Billingsley spokesman Steven Grant said Tuesday.
The developer has owned the vacant land north of Mapleshade Lane for more than 30 years and has been working for more than two years to get approvals for the development.
“We are bringing in major office — 800,000 square feet of office,” developer Lucy Billingsley told the Plano City Council. “The first building coming will be a speculative office building unless it is preleased.”
Six office buildings are planned at Beacon Square.
“We will be bringing in the retail — 60,000 square feet of retail in the first phase and 117,000 square feet overall,” Billingsley said. “We have mixed-use residential buildings, we have a townhome community and apartments.”
More than 1,100 residential units — mostly apartments — are ultimately planned at Beacon Square. There will also be 7.5 acres of open space.
The Beacon Square property is just south of Billingsley’s International Business Park.
The developer has built thousands of apartments in its Austin Ranch and Cypress Waters communities in Dallas’ northern suburbs.
Beacon Square is the latest in a series of major, mixed-use projects for sites along Bush Turnpike. Last month developer Rosewood Property Co. won approval from Plano for a 156-acre project at Bush Turnpike and Alma Road that will include homes, shops, apartments and office buildings.
Real Estate Editor