Plano Approves Arena District Plans at The Shops at Willow Bend, Advancing Centennial, Levin Holdings and Cawley Partners Real Estate Development

PLANO, Texas — June 8, 2026 — The Plano City Council approved a package of actions during its June 8 meeting to begin a formal process for developing a sports and entertainment district at The Shops at Willow Bend, located at 6121 W Park Blvd along the Dallas North Tollway. The approvals mark an early but significant step in a potential large-scale real estate development that would combine a new multipurpose arena — intended as the future home ice of the Dallas Stars — with retail, restaurant, residential, office and public space uses.

The council approved a non-binding Letter of Intent with the Dallas Stars, an incentive agreement with Levin Holdings and Cawley Partners, the establishment of a Tax Increment Reinvestment Zone (TIRZ) for The Shops at Willow Bend and the surrounding development area along the Dallas North Tollway, and a Venue Project Resolution for submission to the Texas State Comptroller — a required step before the city may call a special venue tax election.

TIRZ Structure and the Real Estate Development Framework

The newly established TIRZ applies only to the sports, entertainment and mixed-use area surrounding The Shops at Willow Bend and is limited to non-residential properties within the defined boundary along the Dallas North Tollway.

The sports and entertainment district is planned to include the arena, additional sports and entertainment venues, retail and restaurants, residential development, public spaces and related infrastructure improvements. The real estate development will be carried out in partnership among Centennial, Levin Holdings and Cawley Partners.

"The Shops at Willow Bend has long been in our sights as an ideal location for creating a vibrant destination that blends sports and entertainment, retail, dining, office space and housing," said Steven Levin of Levin Holdings. "It's an opportunity to reimagine this property as a place where the community can come together and where Plano can continue to grow and thrive."

Venue Tax Election Targeted for November 2026

The Venue Project Resolution approved by the council must first be submitted to and approved by the Texas State Comptroller before the city may formally call a special election. Tentatively scheduled for November 3, 2026, the election would ask voters to authorize several project-specific taxes to support the planning, real estate acquisition, establishment, development and construction of the arena and related infrastructure.

The proposed venue taxes include a short-term motor vehicle rental tax, a hotel occupancy tax on hotel room bookings, an event parking tax, an event admissions tax and a venue use tax on major league team members who play a professional game in the arena. Revenues from these taxes would be earmarked for the arena and associated infrastructure.

Upon receiving Comptroller approval, the Plano City Council would consider an ordinance formally calling the election.

"Plano has built a reputation as a city that welcomes world-class partners and community-focused investment," said Plano Mayor John Muns. "These actions are a significant first step as we evaluate the potential for a thoughtfully designed sports and entertainment district that reflects the priorities and values of our community."

Community Engagement

City officials said keeping residents informed will be a priority throughout the process. Two in-person community open houses are scheduled inside The Shops at Willow Bend property — on Wednesday, July 8, from 11 a.m. to 1 p.m., and Tuesday, July 14, from 6 p.m. to 8 p.m. Attendees are directed to use the entrance near Equinox and Crate & Barrel.

A self-guided virtual community open house will be available from July 8 through July 22 at plano.gov/WillowBendDistrict. The city is also launching a dedicated webpage that will be continually updated with project information, frequently asked questions and opportunities for residents to stay engaged as the project progresses.

Next steps for the city include traffic modeling and mobility analysis to assess how a potential sports and entertainment district could affect surrounding roadways, intersections, parking, pedestrian access and overall traffic flow in the area.

About the Development Partners

Centennial, powered by Lincoln, is a national retail real estate owner and operator overseeing more than 25 million square feet of retail and mixed-use destinations across 18 states. In addition to investing in and operating its own portfolio, the company provides property management, leasing and advisory services to institutional and private owners nationwide. Centennial operates as part of Lincoln Property Company, one of the nation's largest privately held real estate firms.

Plano is the largest city in Collin County with a population of more than 300,000 and is home to the North American or regional headquarters of more than 70 Forbes Global 2000 companies, including Toyota Motor North America, PepsiCo Foods North America, JPMorgan Chase and Samsung Electronics America, among others.

Sources: Centennial press release, June 9, 2026