From Staff Reports

A groundbreaking ceremony was held last week to initiate construction of a new office building that may serve as the forerunner of the next building boom along Preston Road in Prosper, according to Robert Winningham, Executive Director of the Prosper Economic Development Corporation.

"We feel as though we are at the front end of a surge in activity along Preston Road in Prosper, as the

former two-lane blacktop is transformed into a major six-lane, divided concrete thoroughfare. The

attractiveness of fronting on Preston Road for office and retail is virtually unmatched. This building will

definitely set a tone for those that follow," he said.

The building, known as 1000 North Preston Road is a one-story, 12,169 square foot building designed

for mixed office, medical and incidental retail uses. The building will conform to the site bounded by Preston

Road, Hays Road, Chandler Circle and Bridgeport Drive, forming what can be roughly described as a modified

triangle. Groundbreaking ceremonies on the site will begin at 8 a.m.

The brick and stone exterior will lend the building a look that complements the surrounding businesses

and homes. Tenants will share surface parking with the Prosper location of Independent Bank, just south of the

construction site.

The building is owned by 1000 North Preston Road, LLC.

"The site is extremely attractive since it has more than 600 feet fronting Preston Road, which is

essentially one of the larger sides of the triangular shape. It’s also one of the highest points in Collin County,

offering an extremely clear view of the surrounding area, even for a one-story structure," added Winningham.

While the building will sit facing the northbound side of Preston Road, access to the building for southbound traffic will be facilitated by the construction of a left-turn lane with a median break on Preston Road at the north end of the building.

A distinctive landscape feature at the north end of the site will disguise a water retention pond and facility service area. Completion of the building, which will be constructed in one phase, is scheduled for Feb. 2014, when it will be available for immediate occupancy.

"As of right now, there is a shortage of office space in Prosper, and this building will address some of

that. We’re very optimistic that the supply and demand for office space will be balanced in the near future,"

added Winningham.