$200M Mixed-Use Development Underway in North Dallas Suburb

Developer O & S Holdings L.L.C. has broken ground on the $200 million Bridge Street Town Centre, a mixed-use, upscale lifestyle center featuring retail, office and a local college, in the north Dallas suburb of McKinney. The Westin McKinney and Conference Center will be the centerpiece of the Bridge Street Town Centre. Phase I is scheduled to be completed fall 2009. The first phase of the development will include a five-story, 221-room Westin McKinney; the 43,000-square-foot McKinney Convention Center (pictured); and the 125,000-square-foot Collin College (formerly Collin County Community College) Higher Education Center.  The Westin will be McKinney’s first-full service hotel and will include a 6,000-square-foot Heavenly Spa by Westin, concierge service, an indoor and outdoor pool, and other business-class amenities. The college campus is targeted for opening in late 2009 and will be approximately 125,000 square feet with 50,000 square feet dedicated to the Higher Education Center. The McKinney Economic Development Corp. provided the land for the Collin College facility and will also pay up to $2 million toward the construction of a parking garage on the site. The 5.5-acre site is valued at approximately $1.8 million.  “The location is one of the largest interchanges in North Dallas with State Highway 121 and US 75,” David Pitstick, president & CEO of the McKinney Economic Development Corp., told CPN today. “Both of those highways serve a much greater population in the Metroplex with lots of traffic that is already there today and will continue to grow.” Pitstick said there is a pent up demand for a full service upscale hotel in the region. “From surveys we’ve done with local industry, we know there is a demand for hotel nights at a full-service hotel,” he said. “Raytheon has 1.8 million square feet under roof in McKinney and books 10,000 hotel room nights each year. That is just one company. There are many others including the Cooper Clinic, which has people coming in from all over the country and they have no place to stay when they come. There isn’t really another four-star full-service hotel within 13 miles of this location.” O & S Holdings L.L.C. and its affiliates own or have developed 80 properties in the United States. The firm opened the 1.5 million-square-foot Bridge Street Town Centre in Huntsville, Ala., on Nov. 1. Currently under development is the 3 million-square-foot Bridge Street Town Centre adjacent to Chicago in Will County, Ill.