An Addison developer is building a $22 million shopping center at U.S. 380 and North Custer Road in Prosper, giving the fast-growing town its first big-box retail development.
Site work for the 355,000-square-foot Prosper Plaza is under way on the 40-acre site, northwest of the prime intersection. Construction is scheduled to finish in about six months.
The center will be anchored by a major clothing store that has not yet been named.
It will cater to Prosper, Texas residents who now shop in nearby Frisco and McKinney, and will position the town as a regional shopping destination.
Prosper Plaza will precede a rash of new commercial projects planned along U.S. 380, including one by Dallas Cowboy owner Jerry Jones' development company, Blue Star Land LP, on both sides of Preston Road north of U.S. 380 in Prosper.
Prosper has had phenomenal housing and population growth, and that's spurring tremendous retail opportunities for the area.
This is going to be the first big retail center serving Prosper, and there is a lot of pent-up demand.
The lead anchor tenant has recently been announced as Kohl's. Smaller confirmed tenants include ViewPoint Bank, Firestone and McDonald's. UCR is negotiating with other anchors, junior anchors and small shop retailers to fill the remaining available space, which includes six pad sites fronting U.S. 380 and North Custer Road.
The Prosper Plaza site is surrounded by existing and future residential communities, and is bounded on the east by North Custer Road, one of four major thoroughfares connecting Prosper with Frisco and McKinney. The center will help the town by cutting drive time for residents who now shop in those neighboring cities.
Even with the downturn in home building, people continue to move to Prosper. Many are trying to escape the "mass-production" feel of some other suburbs north of Dallas. "Prosper truly has a small-town feel," and majority of the homes are custom built and on over sized or acre lots.
Prosper, Texas has grown from a community of about 500 residents in 1970 to a town of more than 6,000 today, according to the North Central Texas Council of Governments.
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