News Flash

Economic Development

Posted on: September 8, 2022

Allen's bright economic future is in the spotlight

“It’s the right city at the right time. We have exciting and inspiring development taking place in Allen. We have over 600 acres of projects that are zoned and underway,” said Dan Bowman, Executive Director for Allen Economic Development Corporation.

Bowman described a flourishing business environment at the recent annual broker’s event showcasing the various projects underway along SH 121 corridor and the Watters Creek District. Several projects underway along SH 121 include:

Located at Alma Drive and SH 121, The Hub is a large family-friendly outdoor entertainment venue that will feature a two-story dining pavilion. The incoming food concepts are all new to Texas.  Set to open this fall, The Hub is located at The Farm in Allen, a 135-acre mixed use development that will include offices, retail, restaurants and housing.

The Trammel Crow and Allen Gateway mixed use projects will feature up to 1 million square feet in office space and over 300,000 square feet of retail/entertainment. Developer Ray Washburne and restaurant owner Buddy Cramer have teamed up to open the third and final location for Katy Trail Ice House at this location (SH 121 between Alma Drive and Custer Road). 

With more land than the other two Katy Trail Ice House locations, a cattle-guard entrance, and the ability to include more event space, Allen’s location will be known as the Katy Trail Ice House: The Ranch. With close proximity to an office development planned by Hines, offerings will include authentic Texas-style business events and parties.

Also developing on SH 121 are The Avenue and the 121 Technology Park. The Avenue is an 80-acre mixed-use project that will include 1 million square feet in office with an outdoor plaza showcasing a large water feature and food hall. 121 Technology Park will include seven buildings for light industrial uses, with office, restaurant and townhomes located on adjacent land.

Ongoing development also continues in the Watters Creek District. Developer Ray Washburne spoke about his recent purchase of the Watters Creek shopping center. Washburne is the co-owner of Highland Park Village and has his sights set on turning Watters Creek into the Knox Street of the North.

Part of this transformation includes the recent name change to Watters Creek Village and it will continue with an investment in more trees, fountains, signage, highway screening, and unique building fronts. He plans to bring in more boutique shops along with a mix of local restaurant cuisine and pickleball courts.

“We are creating a serious retail destination north of Dallas with a unique feel,” explained Washburne. 

Washburne commented on the various developments in Allen being different types of unique spaces including the plans for the revitalization of downtown Allen. 

“Ultimately, that’s what you want. Unique special spaces with connectivity,” said Washburne.

For more information about development in Allen, visit Allen Economic Development Corporation.

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