The Allen Economic Development Corporation has recently provided a series of updates on multimillion-dollar development projects that have been in the making for months.
Below is an aggregated roundup of these announcements.
One Bethany East
Pillar Commercial and Hall Capital have acquired One Bethany East, the first Class A office building located in the Watters Creek District. The five-story 120,000 SF office building is home to anchor Credit Union of Texas, Boss Fight Entertainment and Verado Energy. The property was bought from Kaizen Development Partners, who spearheaded the construction of the building in 2018.
Allen-based developer JaRyCo started construction on The Farm in Allen, a 135-acre mixed-use project at the southeast corner of Sam Rayburn Tollway (SH 121) and Alma Drive. Work will begin with the developer's $25 million infrastructure package, including the roads and utilities, followed by construction of West Lake Park, the phase one trails and the public parking garage.
The Farm in Allen will embrace the property’s natural beauty with a 1 1/2-acre lake, over 2 ½ miles of hike and bike trails, a 16-acre greenbelt along Watters Creek and four additional park areas. The development will tie into the extensive City of Allen hike and bike trail system and will also include several energy efficient and sustainable design features.
Allen Tech Hub
105,000 square feet of new office space is underway in Allen and set to deliver in April 2022. Heady Investments broke ground on its four-story Allen Tech Hub project, located on the south end of Watters Creek at Montgomery Farm. Building amenities will include a tenant lounge, on site security, a conference room and a proposed drone landing pad.
The building will be located next to Mutts Canine Cantina, an off leash dog park with a dog-friendly outdoor restaurant and beer garden, that is under construction and scheduled to open later this year.