The master developer behind a $500m (£378m/€443m) cricket stadium complex in Allen, Texas has insisted that the project will go ahead despite one of the key companies involved in the plans dropping out.

Plans were first revealed in December to develop a 15,000-seat cricket stadium as part of a wider mixed-use development in the city. The plans were unveiled by Texas-based Thakkar Developers in collaboration with the CricRealty Company.

The CricRealty Company has now opted to cease its involvement in the project, which has been dubbed the Allen Sports Village. The City of Allen has been notified by Thakkar Developers that they will proceed with the project plans, which are currently under technical review.

In a statement reported by the Bisnow website, Thakkar Developers has moved to clarify that the project will go ahead despite the withdrawal of CricRealty Company.

“As the owner and master developer of the Allen Sports Village, Thakkar Developers’ plans for the 80-acre complex are unchanged,” the company said. “We remain committed to developing this exciting project, and are diligently working with consultants to finalise 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.”

Along with the cricket stadium, the village is set to feature more than 500,000 square feet of office space, 1,000 residential units, 165,000 square feet of retail and restaurants, a training centre, an events centre and two hotels.