The developers who propose to build a $500 million Allen sports complex say they are pushing ahead with the project despite the loss of a key player.
The cricket stadium and mixed-use development planned on State Highway 121 was announced late last year by McKinney-based Thakkar Developers.
Last week one of the partners in the project — CricRealty Co., an affiliate of Pennsylvania-based Global Sports Ventures — disclosed that it is pulling out of the deal.
But the project is still alive, a spokesperson for Thakkar Developers said Tuesday.
“As the owner and master developer of the Allen Sports Village, Thakkar Developers’ plans for the 80-acre complex are unchanged,” the company said in a statement. “We remain committed to developing this exciting project, and are diligently working with consultants to finalize plans that will yield the best economic opportunity for the Allen community.
“Thakkar is not dependent on any one partner to develop the proposed complex, and active discussions are ongoing with a number of local investment parties to bring cricket and other sports to the planned development.”
The company said it is still engaged in talks with the city of Allen and homeowners in the area to get zoning approvals for the development. The high-profile project caused concerns with nearby residential neighbors who were worried about the increase in traffic.
“We are also engaging with the neighboring HOAs to ensure their concerns are factored into the plans before submitting the zoning application to the city of Allen,” Thakkar development said.
In December, CircRealty and Thakkar Developers unveiled plans for what they said would be one of the largest stadiums for cricket players in the U.S. Plans for the proposed Allen Sports Village include retail, restaurant, hotel, office and residential units.
Cricket is the second-most-watched sport globally behind soccer, and the sport is popular with Collin County’s growing Asian population.
Along with the Allen project, CircRealty said it is looking to develop similar stadiums in Chicago, Atlanta, Orlando, New Jersey, New York, California and Washington, D.C.