Dallas Stars Unveil Plano Willow Bend Arena Proposal
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After months of speculation and increasingly obvious signs that something was brewing, the Dallas Stars have formally unveiled a proposal for a new arena district in Plano. The NHL franchise announced late Tuesday that it has signed a non-binding Letter of Intent for a proposed sports and entertainment district anchored by a future arena at The Shops at Willow Bend. According to documents included in Plano’s June 8 City Council agenda packet, Dallas Stars ownership anticipates arena development costs exceeding $1 billion.
The announcement comes just one day after the Dallas Mavericks announced they entered into an options agreement at the former Valley View Mall in North Dallas. If both projects ultimately move forward, the American Airlines Center could lose both of its anchor tenants over the next decade.
Not Just an Arena
According to the Stars, the proposed mixed-use development would include sports, entertainment, retail, dining, and public gathering spaces anchored by a new hockey arena. The project is being advanced jointly with Levin Holdings & Cawley Partners and Centennial.
Specifically, the 12-page Letter of Intent is non-binding, meaning the proposal remains in its early stages. However, city documents released ahead of the June 8 Plano City Council meeting provide the first look at the broader public project.
Council members are scheduled to consider a $15 million economic development agreement with mall site owner Centennial Waterfall Willow Bend, including up to $10 million for demolition and site preparation, and another $5 million tied to the construction of a new Visit Plano visitor center within the district, city documents show.
Separate agenda items would establish a 41-year Tax Increment Reinvestment Zone encompassing nearly 900 acres surrounding the Willow Bend area. The draft plan mentions $700 million in public improvements and approximately $2.4 billion in new development value.
While the proposed TIRZ encompasses nearly 900 acres surrounding Willow Bend, the redevelopment site itself is considerably smaller. A Chapter 380 agreement included in the council packet describes the project area as approximately 76 acres at the northwest corner of Park Boulevard and the Dallas North Tollway. A Chapter 380 agreement is a Texas economic development tool that allows cities to provide grants, reimbursements, fee waivers, or other assistance to help drive private investment and redevelopment projects, and is different than a TIRZ, which uses future tax revenue — though both often accompany these types of public-private partnerships.
CandysDirt.com previously reported that Centennial’s original redevelopment plans covered approximately 107 acres. The district site map included in the June 8 council packet appears to mirror that footprint, suggesting the Stars’ proposed arena district builds upon Centennial’s vision for “The Bend,” a mixed-use development plan first unveiled in 2022. In March this year, Centennial announced plans to demolish parts of Willow Bend as news of store closings had trickled in over the past year.
While the council documents provide the clearest picture yet of the proposal’s financial framework, many specifics of the proposal, including transportation investments, roadway improvements, and the full scope of the redevelopment, have not yet been detailed publicly. The June 8 meeting represents an important milestone, but additional agreements and planning documents would still need to be considered as the project moves forward. Essentially, the upcoming City Council discussion appears to be less a vote to bring the Dallas Stars to Plano and more about whether Plano wants to create a Tax Increment Financing zone to redevelop that area.
“This project would present a once-in-a-lifetime opportunity for our franchise,” Dallas Stars Owner, Governor and Chairman Tom Gaglardi said in a statement. “We eagerly await the vote by the Plano City Council and look forward to continuing the conversation to be part of the redevelopment of The Shops at Willow Bend.”
Early Indications
Back in February, CandysDirt.com reported that Dallas Council Member Chad West appeared to confirm long-running speculation when he said the City of Plano had advanced a proposal to bring hockey to the Collin County suburb. City officials later confirmed they’d entered arena discussions with the Stars and had been talking with the franchise for roughly a year, but no formal agreement had been reached. Tuesday’s announcement marks the first formal public step of turning arena discussions into a larger redevelopment project.
While the proposal would move the team’s game-day home from Dallas to Plano, it’s worth noting that much of the organization’s front office operations have been based north of Dallas for years. The Stars’ practice facility, front office, and operations staff are already headquartered in Frisco, where the team has operated since 2003.
Project Scope
If approved, the project by Centennial and Levin Holdings & Cawley Partners would create Plano’s first major arena-anchored entertainment district and likely the largest redevelopment effort in Plano’s history. By comparison, AT&T’s redevelopment plans for the former EDS campus in west Plano encompass roughly 54 acres.
The proposal creates a striking parallel with the Mavericks’ plans announced just a day earlier. The Mavericks are pursuing a 104-acre arena district at the former Valley View Mall site in North Dallas, and the issue is headed to Dallas City Council this week.
The two sports franchises have shared the American Airlines Center in Victory Plaza near downtown since it opened in 2001, though their business relationship has soured in recent years. The Mavericks and Stars spent much of last year embroiled in a legal battle over control of the arena before reaching a settlement earlier this year.
Now, just one day apart, both teams have announced future plans for their respective arenas. The Mavericks are pursuing a redevelopment district at the former Valley View Mall site in North Dallas, and the Stars propose a similar transformation at The Shops at Willow Bend — turning two struggling regional mall sites into North Texas’s newest entertainment hubs.
CandysDirt.com has reached out to the City of Plano and Mayor John Muns for comment and will update this story when additional information becomes available.
This story was updated at 4 a.m. to include details from Plano City Council documents.
