StreetLights to Build Dallas Tower
The property is slated to come online in 2029.
StreetLights Residential will develop a 22-story, 261-unit luxury multifamily tower in Plano, Texas. Construction is slated to begin this month, while completion is expected in 2029.
The project will also include three adjacent rental townhome units with three-bedroom layouts spanning between 3,283 and 3,316 square feet. Plans call for one- to three-bedroom apartments in the multifamily tower, with sizes ranging from 682 and 2,843 square feet.
Amenities are on track to include a sky lounge, a golf simulator, coworking spaces, a library and a gym, as well as a swimming pool, among other features.
Located at 6501 Legacy Drive, the project takes shape in northern Dallas as part of The Park at Legacy, a revitalization plan inside the former 100-acre JCPenney campus headquarters. Within walking distance, other corporate giants set up their U.S. base of operations, including Toyota, Pizza Hut, Frito-Lay, Ericsson and FedEx.
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Capital Commercial Investments acquired the campus in 2021 and, as part of its efforts to overhaul the property, tagged StreetLights as the residential developer. Their proposal gained city council approval in 2024, consisting of two multifamily and four office towers, four restaurants, one hotel and one mixed-use building, as well as the renovation of the existing office and garage structures.
Dallas multifamily completions may soften in 2026
The Metroplex’s inventory expanded by 3.2 percent during the 12 months ending in May 2026, according to a Yardi Matrix report. The market, which already had an above-average completion rate compared to the U.S. figure, still held upward of 50,000 units under construction as of mid-June.
StreetLights Residential contributed to the market’s pipeline with other projects besides the one within JCPenney’s campus. Earlier this year, the company broke ground on another Dallas project, a 365-unit development also slated for completion in 2029. This is one of the 53 developments the company has underway across the U.S., totaling more than 16,400 units with a total capitalization of $5.8 billion, according to its website.
