When broken down, the vision for Monarch City estimates 5 to 6 million square feet of office, more than 3,000 residential units, 300,000 to 400,000 square feet of retail, and two hotels. Overall, developers say they estimate around 10 million square feet of space will be developed across roughly 50 buildings. McCaffrey says the community is expected to support some 20,000 onsite office jobs and provide roughly $300 million to $500 million in tax revenue to the city of Allen over the next 30 years. While the park is at the heart of Monarch City’s placemaking efforts, the development’s reach goes beyond outdoor spaces. “Monarch City provides us the opportunity to create a similarly successful destination.” “Klyde Warren Park has become one of the most desirable places in Dallas and has had a positive impact on the surrounding city blocks because of the way it has successfully integrated an active central gathering space into an urban area,” he says. “We should be doing something that, in 100 years, is going to be here and is going to be great.” McCaffrey says Monarch City’s 20-plus acre central park will be larger than Dallas’ Klyde Warren Park and notes the impact of the park in the city’s Arts District. Jim McCaffrey, Howard Hughes’ senior vice president of development, describes the project as an example of placemaking, “creating an identity, and identities, that go beyond a single use.” Though the natural features today are largely obscured by above-grade highways and treetops, developers at Monarch City are working to again reveal the splendor and reintroduce native pollinators to the area.ĭescribed by its tagline, “Inspired by nature ready for tomorrow,” Monarch City is a mixed-use development created by The Howard Hughes Corp., the developer behind master-planned communities such as Circle T Ranch in Westlake and The Woodlands, north of Houston.
The land was fertile-pregnant with wildlife, natural grasses, and Monarch butterflies by the thousands-the settlers noted in letters back home. The region that is now Allen is fed by small waterways crisscrossing the terrain. And, it’s from the earliest settlers in the area that the development derives its name. Highway 75 and State Highway 121 is slated to house the first incarnations of Monarch City. It’s hard to say what trends will dominate mixed-use development 100 years from today, but Monarch City, Howard Hughes Corp.’s soon-to-break-ground development in Allen, is prepared.Ī 261-acre greenfield site situated at the intersection of U.S. According to the Allen Economic Development Corp., Howard Hughes has listed Monarch City, which received zoning approval in June, as a non-core asset of the company. Editor’s Note: Since this article was published in the Summer 2019 edition of the Dallas-Fort Worth Real Estate Review, developer Howard Hughes announced that it is moving the company headquarters from Dallas to its Woodlands regional office in Houston as part of a company transformation and executive reorganization.
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