Allen, Texas – Billingsley Co., a prominent developer, is on the brink of setting into motion the inaugural phase of an expansive 500-acre development project in Collin County, which is projected to command a cumulative value exceeding $3 billion upon culmination.
The real estate giant is currently in collaboration with the municipal bodies of Allen and Fairview, finalizing the blueprint for an ambitious mixed-use endeavor titled Sloan Corners.
Established as a veteran in the field, Billingsley Co. achieved prominence with its successful 1,000-acre Cypress Waters project, situated to the northwest of Dallas. Back in 2019, it extended its developmental grasp by acquiring 240 acres in a strategic location, nestled at the southeastern juncture of U.S. Highway 75 and State Highway 121 in Fairview. This acquisition was executed via a collaboration with the Petefish family, the primary landowners of the said area.
Fast forward to 2021, Billingsley’s expansionary momentum remained unwavered as it procured an additional 260 acres across the highway in Allen, enhancing its foothold at the southwest intersection of the bustling highways.
“This is the biggest undeveloped intersection in the Metroplex in the path of growth,” Billingsley said, as reported by Dallas Morning News.
The development site in question significantly outweighs West Plano’s $3 billion Legacy West project, being approximately twice its size, positioned at the junction of the Dallas North Tollway and State Highway 121.
In a strategic move, the city of Allen has recently assigned a designation of reinvestment zone and tax increment finance district to its corner. This maneuver is expected to funnel increased property taxes from the Sloan Corners development towards the provision of essential infrastructural components such as streets, utility lines, and more. The maximum reimbursements from this initiative could potentially ascend to an impressive figure of nearly $75 million.
As per Allen’s official statement, the Sloan Corners property is one of the largest undeveloped plots in its jurisdiction and is “poised for heightened support as it metamorphoses from unutilized farmlands into a thriving regional employment nucleus.” The city forecasts that its portion of Sloan Corners could potentially appreciate up to a staggering $2 billion in valuation.
The meticulously designed masterplan for Sloan Corners envisages a built-up area exceeding 10 million square feet for office spaces, approximately 6,000 apartments, and over 200,000 square feet dedicated to retail businesses. “This forthcoming community will boast more greenery than the iconic Klyde Warren Park nestled in downtown Dallas,” as indicated in its promotional material.
Billingsley Co. describes the project as “the next significant development in the D-FW Metroplex.”
The developer isn’t wasting time with the massive project. The firm plans to build apartments and offices in the first phase on Chelsea Boulevard, Billingsley said.
“We are in for financing for our first multifamily start in Allen,” she said. “We have office buildings in [the] design permit process that we will start soon after. “We’ve got all of the infrastructure organized for both developments. In Allen, we are getting ready to start with phase one.”
Hartford Square apartments, an upcoming residential complex, are envisioned to be housed in a four-story edifice as per the blueprint designed by O’Brien Architects, a Dallas-based architectural firm. This information was disclosed in planning documents submitted to state authorities, predicting a potential inauguration of the rental units in the early months of 2026.
A key highlight of Sloan Corners will be its incorporation of green belts, parks, and pedestrian-friendly walking trails. The presence of substantial wooden expanses on both sides of the project was pointed out by Billingsley, the visionary behind the project.
An integral part of the development will be the construction of the new Ridgeview Drive bridge spanning U.S. 75. This structure is set to connect the disparate halves of Sloan Corners and will come equipped with pedestrian accessibility.
“In Fairview, we just got approval moving forward with Fairview Parkway,” Billingsley said. “We will be quickly moving into first phase infrastructure over there.”
Billingsley Co. named the development Sloan Corners after Sloan Creek, which cuts through the property.
“You want a name to be indicative of a place,” Billingsley said. “We did research on history up there. Today, the name doesn’t jump out but we can grow into that name and make it significant. We just need to do everything correctly to make these places be rich communities.”
Billingsley Co. is recognized for its methodical approach to projects, taking the time to ensure precision and quality. The company first acquired land for its landmark Cypress Waters development, located near LBJ Freeway and Belt Line Road, nearly two decades ago. Today, Cypress Waters has evolved to encompass approximately a dozen office buildings, accommodating over 16,000 employees, in addition to over 2,000 apartments and retail spaces.
Billingsley has been investing even longer in its International Business Park, located near the northwest corner of the Dallas North Tollway and Plano Parkway. Since its inception in the 1990s, this 300-acre business park has steadily expanded to include more than a dozen office buildings. The developer recently inaugurated yet another building at the business park, resulting in a total of 1.4 million square feet of office spaces, which provides employment to over 4,000 individuals across 100 companies.
— DallasMetro.news (@DallasMetroNews) May 29, 2023