StreetLights Residential Bets on Older Affluent Renters With New Plano Luxury Tower
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Construction is underway on a 22-story luxury apartment tower on the former JCPenney corporate campus in Plano, with local developer StreetLights Residential betting on a growing demographic wanting the convenience of apartment living without sacrificing space or amenities.
Located just across the street from Legacy West, the upcoming The Parks at Legacy West will comprise 261 units and three adjacent townhomes. The tower’s one-, two-, and three-bedroom apartments will range from about 682 to 2,843 square feet. The townhomes, each exceeding 3,280 square feet across three stories, will be available for lease.
“As a general trend, we are seeing that later-in-life renters, from a demographic perspective, are growing in our space,” said StreetLights Residential vice president of development Greg Coutant, noting that most of the multifamily real estate in the area isn’t exactly designed with them in mind. “We wanted to build something different that’s tailored to that more discerning renter.”
Coutant said the building is designed for what he described as a growing population of “renters by choice” — established professionals and empty nesters who prefer the flexibility of leasing but still expect condominium-style finishes and generous floor plans.
The amenity package reflects the approach. Plans call for a three-tier resort-style pool with private cabanas, a sky lounge overlooking the area, a golf simulator, coworking spaces, a library, a boardroom, a fitness center, and 24-hour concierge service. The building will also include EV charging stations, pet-focused amenities and structured parking.
The Parks at Legacy West also includes an element not commonly found in high-rise apartment projects: three townhomes positioned along the property’s entrance. According to Coutant, the townhomes provide a transition between the tower and neighboring single-family properties to the east while framing what he described as a grand arrival sequence leading into the building’s private motor court and concierge lobby.
The tower will rise within the roughly 100-acre former campus, an area that continues to evolve as one of North Texas’ premier mixed-use districts. Residents will be within walking distance of Legacy West’s restaurants, shopping, and entertainment while also enjoying proximity to parks, trails, dog parks, and pickleball courts.
“We think the site is incredible. It’s adjacent to a great retail environment but not on top of it,” Coutant said. “This demographic that we’re pursuing likes to have those amenities at their fingertips, but they don’t want to be burdened by some of the day-to-day headaches that go along with living in that retail environment.”
The Parks at Legacy West represents the first residential phase of the broader $1 billion Park at Legacy redevelopment, a long-term transformation of the former campus into a mixed-use district with housing, offices, retail, restaurants, a hotel, and public gathering spaces, as previously reported by CandysDirt.com.
While StreetLights Residential has developed projects in Dallas, Frisco, Arlington, and Fort Worth, the project marks the firm’s debut in Plano. The sizable suburb has been benefiting from continued corporate investment and relocations. It also may soon become home to the Dallas Stars, with the franchise unveiling a proposal to build a new arena at The Shops at Willow Bend.
“We’re big believers in this market,” Coutant said.
Completion is expected to wrap up in early 2029. StreetLights Residential is privately financing the project. Coutant declined to discuss anticipated rental rates.
