A nearly 500-acre mixed-use project in Allen and Fairview by developer Billingsley Co. will create a development that eventually will total more than $3 billion in value and fill one of the area’s largest undeveloped intersections.
Dallas-based Billingsley is nearly done planning the first phase of the project it calls Sloan Corners, situated at the southern corners of U.S. Highway 75 and State Highway 121 in Collin County.
“The corners of I-75 and SH-121 are one of the last great undeveloped intersections in DFW. To do it justice, we intend to build something really spectacular here,” Lucy Billingsley, partner at Billingsley Co., said on the company website.
The name Sloan Corners comes from Sloan Creek, which cuts through the property, Billingsley said.
Billingsley took control of 240 acres at the southeast corner of U.S. Highway 75 and State Highway 121 in Fairview in 2019 and formed a partnership with the landowners, the Petefish family, to develop the property that Billingsley calls “the next significant development in the D-FW Metroplex.”
Billingsley, known for its 1,000-acre Cypress Waters development northwest of Dallas, plans to build apartments and offices in the first phase on Chelsea Boulevard.
“We are in for financing for our first multifamily start in Allen,” Lucy Billingsley told The Dallas Morning News. “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.”
Breakdown of plans for office, multifamily, and retail
The city of Allen said it has designated its corner as a reinvestment zone and tax increment finance district that will allocate increased property taxes from the Sloan Corners development to help pay for streets, utility lines, and other infrastructure.
The Morning News said the maximum reimbursement could be nearly $75 million.
The Sloan Corners site is one of its largest vacant properties and “qualifies for additional support as it transforms from hayfields to a regional employment hub,” city of Allen officials said.
The city said it estimates that its side of Sloan Corners could be valued at $2 billion.
According to Billingsley, the Sloan Corners development will include more than 10 million square feet of office space, 6,000 apartments, and more than 200,000 square feet of retail space.
Fairview will have 4.4 million square feet of office space, while Allen will get 6.16 million square feet of office. The company plans to build 100,000 square feet of retail place in Fairview and 120,000 square feet of retail in Allen.
And, Billingsley said that 4,000 multifamily units will be in Allen and 2,000 in Fairview.
Natural ‘amenities you can’t go out and buy’
The development will include greenbelts, parks, and walking trails. The company said the site has large, wooded areas on both sides.
In its marketing materials, the company said, “With acres of parks, bridges, and pedestrian trails that will run along the banks of Sloan Creek, this community will have more green space than Klyde Warren Park,” the popular bridge park in downtown Dallas.
Billingsley Co. bought the first section of land for the Sloan Corners development in Fairview in 2017.
The development’s planned Hartford Square apartments would be in a four-story building designed by Dallas’ O’Brien Architects, and reportedly would open in early 2026.
Billingsley said a new Ridgeview Drive bridge across U.S. 75 would link both sides of Sloan Corners and include pedestrian access.
“In Fairview, we just got approval moving forward with Fairview Parkway,” Billingsley said. “We will be quickly moving into first phase infrastructure over there.”
The Allen Economic Development Corp. said the property will have build-to-suit campus opportunities in walking distance from retail, restaurants, trails, water features and other amenities that will attract and retain employees.
The EDC called it an urban community surrounding a central park that will provide a unique experience and open public space for workers, residents, and visitors.
“There is some real rich natural beauty to the site,” Billingsley Partner Sumner Billingsley said on the Allen EDC website. “There is an abundance and variety of trees, and there is a creek. There are amenities you can’t go out and buy,”
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