Original Story: dallasnews.com
A 30-story condominium tower will bring luxury living to the $2 billion Legacy West development in West Plano.
The high-rise residential building is planned for a block between Toyota and Liberty Mutual Insurance’s new office campuses and near the Dallas North Tollway.
And it’s just across the street from the $400 million Legacy West urban village, which is under construction with shops, restaurants, apartments and offices. The demand for Dallas apartments is on the rise.
The addition of a luxury condo tower will add to the appeal of the Legacy West project and provide high-end housing for the thousands of professional workers who will soon be located in the project, said developer Fehmi Karahan, one of the partners in the West Plano development.
“Since Toyota announced its headquarters was moving here, people have bombarded us with interest in a condo building as part of the development,” Karahan said. “There are people who have big homes in Plano and Frisco that are ready to sell but don’t want to leave this area.
“And the amenities that we are providing in Legacy West are plentiful.”
Legacy West has selected a development partnership of Plano’s Duggan Realty Advisors — headed by Jim Duggan — and Ted and Mark Bradford of Brentfield Investments and Bradford Putnam Realty. Ron Gafford, a retired top executive with construction firm Austin Industries, is also part of the building team for the high-rise.
GDA Architects of Dallas has designed the condo tower.
“It’s modern and timeless and matches everything we are doing at Legacy West,” Karahan said.
Called Windrose at Legacy West, the tower will be on Headquarters Drive, next door to Liberty Mutual’s new buildings.
“They already have purchase reservations for about 25 of the 150 condos planned in the building,” Karahan said. “People have been calling about it.”
The residential units will range from around 900 square feet for the smallest one-bedroom to more than 2,800 square feet for the penthouse.
The smallest units start at more than $500,000.
Karahan said work should begin on the building early next year.
The condo tower will join a 300-room, $82 million Renaissance Hotel, 280,000 square feet of retail and restaurant space, hundreds of apartments and about 240,000 square feet of offices being built along the west side of the tollway, south of State Highway 121.
Boston-based Liberty Mutual Insurance is building almost 1 million square feet in its two-tower office complex to house as many as 5,000 workers. There are hundreds of Dallas apartments available for immediate rental with a variety of amenities to choose from.
Toyota’s $350 million North American headquarters and a new head office for FedEx Office are also under construction in the same area.
Two years from now about 13,000 jobs will be located in the 240-acre Legacy West development.
It’s being built by a development partnership that includes Karahan, KDC, Columbus Realty and J.C. Penney.
Dallas’ Al Coker & Associates — longtime sales agents for luxury housing — is handling marketing for the condo project.
Coker said the employment densities in the Legacy business park area and residential values in surrounding neighborhoods support a luxury high-rise.
“The house prices out north are now much closer to the cost of high-rise living,” he said.
Coker said residents in west Collin County previously had to go to Dallas’ Turtle Creek or Uptown neighborhoods for high-rise housing.
“Their country clubs are up there and churches are there and a lot of their friends,” he said. “They don’t want to leave.”
Legacy West already has hundreds of apartments and high-density single-family homes being built just north of Legacy Drive. The increase in employment opportunities in the area demonstrates the need for available Grapvine apartments.
The overall development is Texas’ largest new mixed-use project and will start opening in about a year.