PLANO, Texas – (Realty News Report) – A 1983-vintage shopping mall in Plano has been redeveloped into a mixed-use development inclusive of multifamily, retail, restaurants and office space.
Houston-based Triten Real Estate Partners and the Michael Hsu Office of Architecture recently completed the redevelopment, called Assembly Park.
Triten purchased the 300,000-SF shopping mall property in 2021 with the goal of transforming the underutilized retail center into a vibrant development on the 26-acre site in Plano, a northern suburb of Dallas.
Assembly Park is located along Central Expressway near Spring Creek Parkway, Assembly Park includes 180,000 SF of reimagined creative office space and 17,000 SF of walkable concept- driven retail and dining space. The office building and restaurant spaces are separated by a newly established hike and bike trail, bisecting the site for enhanced connectivity.
“Assembly Park is a true work, live, play destination, positioned to appeal to a diverse range of community members,” said Scott Arnoldy, founder of Triten. “Beyond the world class creative office space, proximity to established corporations and neighborhoods, and walkable concept-driven retail and dining space, Assembly Park introduces an expansive new park, bike trails and a full calendar of nightly and weekly events, delivering a lifestyle second to none.”
To bring its vision to life, Triten enlisted Michael Hsu Office of Architecture, whom the firm collaborated with on the Houston retail center M-K-T, to design the office and retail portions of Assembly Park. (Triten and Radom Capital developed the M-K-T, which has four acres of green space, in The Heights on North Shepherd Drive, east of TC Jester.)
In Plano, the interior design of the creative office holds strong to the existing structure’s history by repurposing the mall’s main corridors and entryways, structural elements, and skylights. The interiors were reimagined for the modern office user and devoted to a quiet workspace by incorporating coworking and conferencing space in the common areas. In addition, wellness components were added such as a fitness facility and locker rooms.
The exterior of the mall went through the most impactful upgrade with an additional partial second floor space added and strong structural steel and freshly tiled facades, which gave the mall’s exterior a new face.
“It was a fun challenge to convert this large mall into an approachable, active place for Plano,” said Founder and Principal Michael Hsu. “Our team responded to the history and context of the building, while adding lively architectural moments, grand entries, unexpected facade patterns and custom brick and tile to provide a fresh energy. The design takes a massive, inward focused building and gives it a personable, engaging feel with opportunities for discovery. Combined with the adjacent multifamily complex underway, this area of Plano will soon be full of activity.”
Assembly Park’s multifamily element, called at The Annabel, is set to deliver in December 2023. This Class A urban-style apartment features 1-, 2-, and 3-bedroom units with rentable garage and storage units.
Founded in 2011, Triten Real Estate Partners (TREP) is a subsidiary of the Triten Corporation, an investment holding company dating back nearly 70 years with operating subsidiaries in energy, media, real estate and consumer goods.
On the industrial side of its business, Triten recently announced a $100 million deal with Angelo Gordon to acquire outdoor industrial storage properties. he partnership focuses on industrial properties including LTL truck terminals, freight facilities, trailer and storage yards, and low coverage industrial facilities.
Oct. 15, 2023 Realty News Report Copyright 2023
Image: Courtesy Triten Real Estate. Michael Hsu Office of Architecture.
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File: Houstonians Transform Plano Mall