Zale Properties has announced plans to develop The Monarch at the intersection of Alma Road and State Highway 121 in Allen. To secure funding for this project, Kennedy Wilson facilitated a four-year loan for Zale. The loan was secured by a team from JLL’s debt advisory division, led by John Brownlee, Bo Beidleman, Chad Lisbeth and Jordan Buck.
The Monarch will consist of 325 units with a mix of one-, two- and three-bedroom options averaging 931 square feet each. According to reports from the Dallas Morning News , the total cost for development is estimated at $75 million. Construction on the 302,696-square-foot building is expected to be completed in early 2027.
Situated on a prime location spanning over 4.7 acres within The Avenue – an expansive mixed-use development – The Monarch will offer residents easy access to various amenities including office space (1 million square feet), retail shops (275,000 square feet), dining options and entertainment venues as well as single-family homes (65 units) when fully developed.
Thakkar Developers based in McKinney are leading efforts towards completing this ambitious project which also includes about urban residential units totaling approximately1600 along with three hotels upon completion . This site across Alma Road faces Hub121 – another major mixed-use venture currently underway in McKinney.
