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…