For years, Rosewood Property Company envisioned office buildings and hotel space for one of Plano’s most visible corners at Plano Parkway and the Bush Turnpike. The market had other plans.
Now, the Dallas-based developer is repositioning the project as a residential-led, mixed-use destination — a shift that reflects demand trends across North Texas.
A Long-Planned Office Site Gets Reworked
Rosewood secured Plano City Council approval March 23 to rework its 156-acre Heritage Creekside development to include a mix of multifamily housing and for-sale homes. Plans still call for up to 300,000 square feet of office space along Custer Road at Plano Parkway, but the overall emphasis has evolved.
“After more than a decade of marketing for office development at Heritage Creekside, we’ve taken a fresh look at the market and are evolving the undeveloped land to better meet the needs of today’s residents and businesses,” Tim Harris, senior vice president at Rosewood Property Company, said in a statement. “We’re creating an opportunity for destination-driven entertainment, restaurant, and retail concepts in a walkable, cohesive mixed-use design that reflects meeting the demand of the neighborhood and overall DFW market.”
What’s Already Taking Shape at Heritage Creekside
The Heritage Creekside repositioning builds on residential development that Rosewood has been rolling out in phases. The Ludlow, a 326-unit apartment community completed in 2023, is up and running. Nearby, The Buckley — a 338-unit multifamily project — is nearing completion and has begun leasing.
The site also includes a growing mix of neighborhood-oriented retail and restaurant tenants, including Taco Joint, Pax & Beneficia, Flying Fish, Rodeo Goat, Crossroads Diner, and Orangetheory Fitness.
A Shift Playing Out Across North Texas
The repositioning in Plano isn’t an outlier. Across North Texas, several large-scale developments that once leaned heavily on office are being reshaped around residential demand.
Early plans by Centurion American for the redevelopment of Collin Creek Mall — just a few miles away — included multiple office buildings alongside hotel, retail, and residential uses. While office space remains part of the long-term vision, the project’s most visible progress has come from new housing, reflecting similar market dynamics.
Rosewood’s Portfolio Shows Growth
Across its own portfolio, Rosewood has been steadily building out a pipeline of mixed-use and multifamily projects in high-growth corridors, including The Gilman in Las Colinas and Penrose at Frisco’s Southstone Yards. In Turtle Creek, the firm is developing the Rosewood Residences, a luxury condominium tower at 3555 Dickason Ave. where sales are underway.
At the same time, the firm’s office holdings continue to show strength. In Uptown, Rosewood Court — the company’s 19-story office tower at 2101 Cedar Springs Road — is nearly 98% leased after signing leases in late 2025 with Brookfield Properties and Neuberger Berman.
That contrast underscores a more selective office market: well-located, amenity-rich buildings continue to attract tenants — and entice employees back to the office. Meanwhile, large-scale suburban developments are increasingly being retooled around residential and mixed-use demand. Older suburban office buildings, particularly from the 1980s-era Texas Instruments and tech corridor boom, are a harder sell…