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ALLEN, TX-General Growth Properties Inc. will hit the Las Vegasconvention runway with one more North Texas site firmly in hand forthe retail circuit. In a long-anticipated closing, the high-powereddeveloper has pulled 238 acres under wing for the one-million-sfshowpiece development, Allentowne.
The Chicago-based developer picked up acreage at the junction ofTexas 121 and US Highway 75 to secure Allentowne's place on itsdrawing board beside Circle T, a joint venture with Hillwood, andlast an as-yet, unnamed development in Frisco, which wasannounced last week for another suburb in the far northern tier.Allentowne, like Frisco, is slated to break ground in 2007.
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