Table of Contents
Centennial has confirmed it will begin demolishing a portion of The Shops at Willow Bend in Plano within the next 12 months. The announcement marks a concrete step forward in the Willow Bend redevelopment, converting one of North Texas’s largest enclosed malls into a 94-acre mixed-use district to be named The Bend.
The project has been in planning since Centennial and New York-based Waterfall Asset Management acquired the 1.4 million-square-foot mall in 2022. Plano City Council approved the current redevelopment plan in February 2025.
What Gets Demolished and What Gets Built
The south side of the mall is the first demolition target. Plano City Council approved that sequencing in February 2025, reversing an earlier plan that had targeted the north side. Demolition on the south side could begin as early as the fourth quarter of 2026, according to Centennial Executive Vice President of Mixed-Use Development Michael Platt.
Several areas will stay open throughout the process, including parking garages and portions of the central shopping center still in operation.
When complete, The Bend is expected to include:
- 965 residences spanning multifamily units, townhomes, and detached single-family homes
- 800,000 SF of retail, restaurant, and entertainment space
- An 18-story hotel
- A seven-story office tower
- A neighborhood dog park and green space corridors
Centennial expanded the residential program after acquiring the former Macy’s building in late 2024. That purchase, following Macy’s closure announcement, enabled the addition of townhomes and detached homes to the original plan. Residential and retail construction are expected to start first, with the hotel and office tower following in later phases.
Anchor Departures Cleared the Path
The Willow Bend redevelopment accelerated as the mall’s remaining anchors exited. Dillard’s closed in January 2026, ending a 25-year run as one of the mall’s original anchor stores. Neiman Marcus announced it will close its Plano location in early 2027. Saks Global, Neiman Marcus’s parent company, sold the Plano store’s property directly to Centennial as part of that transition.
The mall has lost 28 national retailers since 2020 by Centennial’s own count.
Those departures have effectively handed the developer a blank slate across the south end of the 94-acre property. North Texas Performing Arts, one of the remaining tenants, was notified it would need to vacate within a year. CEO Darrell Rodenbaugh said the organization intends to work cooperatively with Centennial while searching for a comparable new home.
The Dallas Stars Wild Card
Centennial is moving forward on the Willow Bend redevelopment regardless of one significant unknown: whether the Dallas Stars will relocate their arena to the site.
A City of Plano spokesperson confirmed in February 2026 that the city has been in “earnest discussions” with the team. Centennial has stated publicly that demolition will proceed with or without a Stars commitment. The site already holds zoning that accommodates the full range of uses under consideration, including an arena footprint. That flexibility gives the developer room to adapt the program as those negotiations develop.
If the Stars do commit to Plano, The Bend would become one of the largest sports-anchored mixed-use projects in Texas history.
Why This Project Matters for North Texas Land
The Bend fits a clear regional pattern. Plano is the second major mall in the market undergoing this type of conversion. Centurion American has been working since 2018 on the former Collin Creek Mall redevelopment, with first retailers expected to open in 2026.
Both projects follow the same underlying logic: large-format enclosed retail has become an inefficient use of high-value suburban land in supply-constrained DFW submarkets. Replacing enclosed square footage with residential density, hospitality, and curated retail drives land utilization toward its highest and best use.
For West Plano specifically, the conversion adds meaningful housing inventory at one of the Metroplex’s most supply-constrained intersections, the Dallas North Tollway and West Park Boulevard. The site’s scale, zoning flexibility, and proximity to Legacy West and major employment corridors make it one of the more consequential suburban infill projects currently in motion in North Texas.
Land professionals tracking commercial-to-residential conversion opportunities in DFW will want to watch how The Bend’s residential absorption performs. That data will shape how lenders and developers underwrite similar projects across the region.
North Texas Is Full of Projects Like This One
The Willow Bend redevelopment is not happening in isolation. Across North Texas, developers are responding to the same pressure: constrained land supply, population growth, and demand for housing that existing zoning never anticipated.
In Denton, The NRP Group and the Denton Housing Authority broke ground on Arbor Ranch, a 297-unit affordable housing community on 22 acres just off I-35. The project targets households earning 30% to 70% of Area Median Income and is expected to deliver first units in early 2027. Denton is facing near-full build-out of its multifamily-zoned land, which is driving developers to find creative solutions on underutilized sites.
That is the same dynamic playing out in Plano. When established multifamily-zoned inventory runs thin, large underperforming sites like Willow Bend become the path of least resistance for developers who need acreage, infrastructure, and municipal cooperation in the same package.
What to Watch
Demolition start confirmation. Centennial indicated Q4 2026 as the target for south-side construction to begin. Permit filings with the City of Plano will be the clearest signal that the timeline is firm.
Dallas Stars decision. The team has not disclosed a timeline for selecting a site. Any formal commitment would reshape the project’s commercial phasing substantially.
Tenant displacement timeline. North Texas Performing Arts is the most visible displacement issue currently. Additional tenant transitions will surface as demolition sequencing is finalized.
Phase 1 residential absorption. Residential and retail are going first. How quickly those units lease or sell will determine how aggressively Centennial moves on the hotel and office towers.
FAQ
What is The Bend in Plano?
The Bend is the planned name for the mixed-use redevelopment of The Shops at Willow Bend, a 94-acre property at the Dallas North Tollway and West Park Boulevard in West Plano. Dallas-based Centennial and Waterfall Asset Management are converting the 1.4 million-square-foot enclosed mall into a walkable district with residences, retail, dining, a hotel, and office space.
When will demolition start at Willow Bend?
Centennial confirmed in March 2026 that demolition will begin within 12 months. Michael Platt, Centennial’s EVP of Mixed-Use Development, indicated south-side construction could begin as early as Q4 2026 following the February 2025 City Council approval.
Will the mall stay open during demolition?
Will the mall stay open during demolition? Yes. Parking garages and portions of the central shopping center will remain operational during demolition. Residential and retail construction will follow once the south-side work is complete.
Is the Dallas Stars arena coming to Willow Bend?
Is the Dallas Stars arena coming to Willow Bend? The City of Plano confirmed active discussions with the Dallas Stars about a potential arena on the site as of February 2026. Centennial has stated the Willow Bend redevelopment will proceed with or without a Stars commitment.
Who owns Willow Bend mall?
Dallas-based Centennial and New York-based Waterfall Asset Management acquired The Shops at Willow Bend in 2022. Centennial is leading the redevelopment.
North 40 Land Group tracks commercial land conversion, mixed-use development, and North Texas market trends. Contact us to discuss what projects like The Bend mean for land values in your target corridors.
References
- Community Impact. “Developer Plans to Start Willow Bend Demolition Within a Year.” March 26, 2026. https://communityimpact.com/dallas-fort-worth/plano/development/2026/03/26/developer-plans-to-start-willow-bend-demolition-within-a-year/
- Bisnow Dallas-Fort Worth. “Plano Mall Redevelopment to Move Forward With or Without Dallas Stars.” March 25, 2026. https://www.bisnow.com/dallas-ft-worth/news/mixed-use/plano-mall-redevelopment-to-move-forward-with-or-without-dallas-stars-133821
- Shopping Center Business. “Centennial Plans Additional Mixed-Use Component for Redevelopment of The Shops at Willow Bend in Plano.” February 19, 2025. https://shoppingcenterbusiness.com/centennial-plans-additional-mixed-use-for-redevelopment-of-the-shops-at-willow-bend-in-plano-texas/
- NBC DFW. “Willow Bend Mall Redevelopment Project Continues with Major Changes.” September 7, 2024. https://www.nbcdfw.com/news/local/willow-bend-mall-redevelopment-anchor-retail-store/3639509/
- Construction Review Online. “Plano Approves Demolition of Shops at Willow Bend’s South End for The Bend Mixed-Use Development.” April 17, 2025. https://constructionreviewonline.com/news/plano-approves-demolition-of-shops-at-willow-bends-south-end-for-the-bend-mixed-use-development/
- Yahoo News / CultureMap. “Texas Retail Giant to Shutter Longtime Store Amid Massive Mall Makeover.” November 15, 2025. https://www.yahoo.com/news/articles/texas-retail-giant-shutter-longtime-014012239.html
- Candy’s Dirt. “Another Major Retailer Winds Down at Plano’s The Shops at Willow Bend.” January 19, 2026. https://candysdirt.com/2026/01/19/another-major-retailer-winds-down-at-planos-the-shops-at-willow-bend/
- Wikipedia. “The Shops at Willow Bend.” Accessed March 27, 2026. https://en.wikipedia.org/wiki/The_Shops_at_Willow_Bend
