The Howard Hughes Corporation unveiled plans for a new 8.7 million square foot mixed-use development in Allen called Monarch City.
Zoning on the diverse amenity-rich community, which will be located in the southwest corner of North Central Expressway and the Sam Rayburn Tollway, is expected to begin this year.
JLL Managing Director Jeff Eckert, Managing Director James Esquivel and Senior Vice President Jay Bailey are serving as marketing and office leasing leads for the multi-use property.
“Monarch City will deliver a game-changing, first-class ‘live, work, play’ environment with state-of-the-art amenities and cutting-edge technologies in one of the most active markets in U.S.,” said Eckert. “The Howard Hughes Corporation’s new development offers great access, diverse amenities and visibility to attract and retain top talent, as well as great opportunities for retail and multifamily.”
Upon its completion, Monarch City will consist of office and retail space along with urban residential product. A luxury hotel is also planned for the development.
“Moving beyond the typical office park, Monarch City is building upon the momentum that we are seeing across the state and across the country as a whole. The Howard Hughes Corporation is creating a dynamic urban, walkable community.” said Mark Bulmash, senior vice president, Development for Howard Hughes Corporation.
According to JLL Research, of all the next tier suburbs in the path of development across North Texas, Allen looks to be most primed for transformational growth. In 1990, the city had less than 20,000 residents. Ten years later, the population of Allen more than doubled and today the population has reached nearly 100,000 residents.