ALLEN, Texas, Dec. 18, 2018 /PRNewswire/ -- Texas-based Thakkar Developers, in collaboration with The CricRealty Company, unveiled plans for a new 15,000-seat cricket stadium and 80-acre mixed-used development to be built in Allen, Texas.
The 15,000-seat stadium is part of a larger development called Allen Sports Village, which will feature more than 500,000 square feet of Class A office space, 1,000 residential units, 165,000 square feet of retail and restaurants, a training center, an events center, and two hotels. The City of Allen is working with the developers to finalize an economic incentives agreement to support the project.
"Cricket is the second most popular sport in the world," said Sam Thakkar, CEO of the Perfect Group of Business, which includes Thakkar Developers. "There are an estimated 20 million cricket fans in the United States. Plus, the growing Indian American population and increasing international community in North Texas makes the Allen Sports Village a perfect location for professional cricket."
The CricRealty Company is working with strategic partners including Donnie Nelson of Amerock Investments, on Allen Sports Village commercial real estate projects.
"We're thrilled to enter into this private-public partnership with the developers to bring this unique project to Allen," said Allen Mayor Stephen Terrell. "With a new international visitor base, we look forward to a big boost in tourism spending—which benefits businesses and residents alike."
In addition to professional cricket, the multi-use stadium will also be suitable for other global sports, concerts and special events. Construction on the site is expected to begin in 2019, with the first phase, including the stadium, expected to be completed 2021.
ABOUT THAKKAR DEVELOPERS
Thakkar Developers is a mixed-use developer that collaborates with best-in-class partners to acquire, finance and develop high-yield, diversified investment-grade assets. With a mission to bring communities – people and businesses – together to achieve a greater good, Thakkar strives for developments that create a sense of place and build community, and projects that leverage public-private partnerships to engender pride of ownership and create a lasting legacy.
SOURCE Thakkar Developers