Future of Willow Bend: From Mall to Sports Hub

The old mall in Plano, Texas, opened in 2001 and has struggled to keep shoppers and stores. It is the last enclosed mall built in Texas, yet it never attracted enough traffic. The biggest anchor stores—Neiman Marcus, Macy’s and Dillard’s—have all left or are leaving by 2027. When Centennial Real Estate bought the property in 2022, the focus shifted from fixing the mall to deciding its replacement. During a meeting with Dallas Stars president Brad Alberts, Centennial’s founder Steven Levin saw a chance to create something unique. He imagined a sports‑anchored mixed‑use development that had never existed in the Dallas–Fort Worth area. Plano city council approved a $700 million public funding plan for a new Stars arena and surrounding district.The proposal envisions about 90 acres of mixed use, built around a $3 billion arena that would open for the 2031‑32 NHL season. The ownership model differs from typical arenas: the city owns the land and arena, leasing it to the Stars for 30 years. Stars owner Tom Gaglardi’s Northland Properties will co‑own the project, while Centennial manages the outlying real estate and Waterfall Asset Management finances it. The redevelopment will demolish most of the mall’s existing retail, theater and office spaces. Design work is beginning, with a goal to break ground in 2028 and complete the arena by 2031. If finished, Willow Bend will transform from a struggling mall into one of North Texas’s largest sports‑anchored mixed‑use districts.