PLANO, Texas (CBSDFW.COM) – It’s the end of an era for Collin Creek Mall as it officially closes its doors on Wednesday.

Most of the stores inside the shopping center in Plano had already shut down but the last lease expired on July 31, putting an end to a mall that’s been a fixture in Plano since it opened in 1981.

Collin Creek Mall (Credit: CBS 11 News)

Centurion American will be taking over and will be using the space as a billion-dollar mix-use project comprised of homes, retail, hotels restaurants and entertainment. Groundbreaking for phase one of the project will happen in August.

Phase one of the five-year project is expected to be completed in 2021.

Residents were able to give their final goodbyes last Friday during a farewell party hosted by Centurion American.