Local · Trusted · Free
The Morning Impact — your neighborhood's most important stories, delivered every morning.
Two properties totaling 1.59 acres in Downtown Plano could be used for future redevelopment by the city.
Plano City Council approved purchasing the land for $2.5 million at a meeting June 8.
The gist
Two properties along 14th Street were purchased because of their proximity to a decommissioned water storage tank owned by the city on North Avenue, per city documents.
Plano Director of Media Relations Amanda McNew said plans for the land are not available yet.
The background
The purchase was approved by the city’s Tax Increment Reinvestment Zone No. 2 board of directors at a meeting May 13, according to city documents. Funds for the purchase come from the 2025-26 Tax Increment Financing 2 fund budget.
The city currently has five active reinvestment zones, including along the DART Silver Line, at the Collin Creek redevelopment, in the Legacy business area and near The Shops at Willow Bend. Some projects to come from the city’s active zones include a mixed-use development at the former Collin Creek Mall and a new stadium for the Dallas Stars, per previous reporting.
