The Plano City Council has approved a nonbinding letter of intent from Dallas Sports & Entertainment LP, the parent company of the Dallas Stars, to build a new $3 billion NHL arena at The Shops at Willow Bend in Plano. The arena will host the Stars’ home games, practices, and camps, as well as other indoor sports, entertainment, cultural, and civic events.

Project Details

The project includes a surrounding mixed-use entertainment district, developed by current property owners Centennial. The $3 billion development will attempt to revitalize the mall, which has been struggling in recent years. Demolition of the mall is expected to begin in early 2027, with the arena expected to be ready by 2031.

The arena’s construction will be partially funded by a newly established tax increment reinvestment zone (TIRZ), which will use tax revenue growth to fund improvement projects within the defined area. The TIRZ will generate over $1.3 billion in new property tax revenue and $245 million in sales tax revenue over 41 years.

Public Input

At a recent city council meeting, 10 out of 12 Plano residents who spoke opposed the plans for the new arena, citing concerns over potential traffic, noise, and safety issues. However, city officials believe the arena will bring stability to the development and create a vibrant entertainment district.

Plano residents may have the opportunity to approve additional funding mechanisms for the arena through a potential venue tax election in November. The city is also exploring ways to improve transit options to the arena, including working with the Dallas Area Rapid Transit (DART) system.

Original reporting: Community Impact — Plano — read the source article.