Renovations planned for Collin Creek Mall
One of the oldest shopping malls north of Dallas will be receiving a facelift thanks to a cash grant from the Plano City Council.
The council voted Monday to provide $600,000 to Rouse Properties, owners of Collin Creek Mall. The money will go toward renovating the more than 30-year-old mall located at Plano Parkway and U.S. 75.
"As you know, since the early 1980s Collin Creek Mall has been a valuable part of our retail community and really set the stage for Plano being a retail center magnet within the Metroplex," said Deputy City Manager Frank Turner. "This agreement continues that relationship with Collin Creek."
Steve Backman, Rouse's vice president of development, said the mall has been impacted by the addition of other malls in the region. Shopping malls such as The Shops at Willowbend, Stonebriar Centre and the Firewheel Town Center are all more modern and feature more amenities than the aging Collin Creek.
However, Backman said Rouse has a vision that will allow Collin Creek to once again be successful.
"We believe that with a tailored approach focused on creating a more modern and vibrant retail center -- one that differentiates it from its competitors -- we can make Collin Creek a very successful center again," Backman said. "... We see tonight's grant as just the first step in what we hope will be a successful partnership with the city of Plano."
Rouse Properties is a fairly new company, having been founded in January. In that time the company has acquired 31 malls across the country. The company was attracted to Collin Creek because of its location and the potential, Backman said.
"Collin Creek has many attributes that we think will allow it to become a vibrant center again," he said. "As one of the most successful sites in the region with proximity to millions of shoppers and family members, it has a strong base of existing anchor and small tenant sales today. With those things it is really a foundation we can build on to make it a central hub of shopping within the Plano area."
According to the Rouse website, an interior renovation of Collin Creek was completed in 2008 prior to Rouse purchasing the mall. The 2008 renovations included a new paint scheme for the mall's interior, as well as new flooring, lighting, restrooms and seating areas. No specific plans were revealed for the upcoming renovation at Monday's meeting.
The $600,000 grant must be paid by the end of October, but no other timeline was given for the renovation.