The Kincaid at Legacy is a 25-story tower featuring 300 luxury residences, including 1, 2, and 3 bedroom units, along with select floor plans featuring studies, is set to be completed in 4Q 2018. The project will offer residents 14,500 square feet of indoor amenity space, including a 2,383 square-foot fitness center overlooking one of the pool courtyards. Other amenities include conference rooms, business center, resident lounge, media room, Wi-Fi throughout the common areas, an entertaining kitchen and bike storage. Outdoor amenities include two resort style pool courtyards with sunbathing shelves, water features, fire pits and grilling areas as well as a large dog park. In addition to the immense property amenities, the project will include 24/7 luxury concierge service to the residents. The project will have sustainable building features and is pursuing LEED certification.
Opportunity, Solutions & Outcomes
Following the successful execution of the adjacent Phase I Legacy Tower, Trammell Crow Company initially planned for a 7-story 192,500-square-foot office building for Phase II. However, based on current market conditions for residential development, and the unique opportunity to develop a Class A residential high-rise in Plano, the team adjusted the business plan for the highest and best use of the Phase II land. High Street Residential (“HSR”), along with Principal Real Estate Investors, then broke ground on on our first multifamily project in the area.
Developing a luxury tower in a market without any existing comps required the team to do extensive market research to optimize a unit mix to meet the anticipated demand. The Kincaid at Legacy is uniquely positioned as the first for rent multifamily high-rise development in Plano and the tallest for rent high-rise development north of Park Lane.