Plano mall re-envisioned as $1B mixed-use project

​​​​​PLANO – The failing Collin Creek Mall has a new owner who is​ ready​ to push ahead with redevelopment of the high-profile property.

Mehrdad Moayedi’s Centurion America Development Group will turn the 37-year-old shopping center off US 75 into a $1 billion mixed-use project. It will tear down sections of the 1.1 million-sf mall and repurpose other parts.

About 400,000 sf of retail will remain on the site, which is west of the city’s ​​revitalized downtown. For-sale townhouses and condominiums will be on part of the mall site.

Centurion American’s purchase includes Collin Creek’s Sears, former Macy’s and Dillard’s stores, plus the mall that links the department stores.​​