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Council directs staff to market Oak Point parcels for hotel, retail and townhomes; deed restrictions to be considered
Summary
Council signaled support to put Oak Point/Plano Center parcels on the market for sale (rather than a ground lease), with staff to pursue offers for hotel, retail and single‑family/townhome development and report back with terms and deed restrictions.
Council members told staff to pursue marketing options to attract a hotel, supporting retail and townhome development on land identified in the 2018 Oak Point plan surrounding the Plano Event Center and green. The discussion did not produce a vote to sell; rather council indicated support to issue a request for proposals to solicit buyers and return with a resolution and terms for council action.
Peter Braster, director of special projects, reviewed the Oak Point plan and a prior market analysis that recommended hotel size, restaurant and retail square footage to support the Plano Event…
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