The Kincaid at Legacy
A 300-unit luxury residential tower in the heart of Legacy Tower Center.
Project Completion: Q4 2018
OverviewThe Kincaid at Legacy is a 25-story tower featuring 300 luxury residences, including one-, two-, and three-bedroom units, along with select floor plans featuring dens. The project offers residents 14,500 square feet of indoor amenity space, including a 2,383-square-foot fitness center, conference rooms, a business center, a resident lounge, a 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 includes 24/7 luxury concierge service to the residents.
Opportunity, Solutions & Outcomes
Following the successful execution of the adjacent Phase I Legacy Tower, TCC initially planned for a seven-story 192,500-square-foot office building for Phase II. However, based on 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 the JV’s 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. The tower was sold to Intercontinental Real Estate Corporation.