A 24-story tower is expected to rise in downtown Plano’s Legacy West development.
Located on the southwest corner of the Dallas North Tollway and State Highway 121, the high-rise will be the latest addition to the $3 billion Legacy West development. Dallas tax services firm Ryan LLC is building the project with Minneapolis-based Ryan Cos. U.S., according to the Dallas Morning News.
The 426,009-square-foot development will cost more than $120 million upon completion. Construction is set to start next week and will open in May 2024, according to planning documents filed with the state.
Legacy West is a business and cultural district, which encompasses 415,000 square feet of retail, restaurant and office space, a 55,000 square-foot food hall, over 1,300 residential units and a 303-room Renaissance Hotel. The space was initially developed by JCPenny in 2011, when the company moved its headquarters from New York to Texas. Today, it’s home to office centers for Toyota, Liberty Mutual Insurance, FedEx Office, JPMorgan Chase, Boeing and other employers.
Ryan LLC bought the more than six-acre development site at Windrose Avenue and S.H. 121 in 2017. North of Liberty Mutual Insurance and JPMorgan Chase’s huge Legacy West office campuses, the space was one of the last vacant tracts in the Legacy West mixed-use project. With the new building, there will still be room on the site for a second future office tower.
When the new tower is complete, Ryan LLC will occupy about half the space, moving hundreds of workers from its offices at the Dallas Galleria. JLL has been hired to lease the remainder of the project to multiple office tenants.
Next door, developer Columbus Realty Partners has plans for an 18-story apartment tower across from Ryan’s site at Legacy West.
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[DMN] — Maddy Sperling