PLANO, TEXAS — NexPoint, a Dallas-based alternative investment firm, has announced plans for TxS District, a 200-acre life sciences development in Plano. The project, named to signify ‘Technology x Science,’ centers on a 91-acre main campus, which previously served as headquarters for Electronic Data Systems.
The district would incorporate 109 additional acres in the Legacy neighborhood. In total, the project would create over 4 million square feet of lab, office and production space across four phases of construction. NexPoint purchased the main campus in 2018 and has been acquiring the additional acreage since that time.
Phases I and II of the project propose to transform two existing buildings on the main campus into 970,000 square feet of lab and office space and 120,000 square feet of amenity space. Initial site improvement plans also include a public park, amphitheater and connectivity to the nearby Legacy retail development. The developer plans to break ground on Phase I before the end of the year.
NexPoint has proposed that the project be achieved through a public-private partnership. The firm is working with the City of Plano on development plans and the project’s impact on the surrounding area.
“Not only would this project be a major economic catalyst for the region, but it would also establish North Texas as a leader in life sciences,” says James Dondero, NexPoint founder and principal.
NexPoint is collaborating with CRB for architectural and engineering services throughout the four proposed phases of construction. JLL has been named as the project’s leasing agent.
“Co-locating research alongside production is crucial for new technologies and nimble solutions,” says Eric Danielson, senior director of business development for CRB. “NexPoint’s project would do so sustainably, by transforming the large, well located and well featured campus into a vibrant facility that will benefit all tenants.”
Electronic Data Systems was a technology services company that famed Texas businessman, billionaire and presidential candidate Ross Perot founded in 1962. Hewlett-Packard acquired the company in 2008 and retired the brand. The former sprawling headquarters campus has gone through multiple owners and uses since then.
— Kari Lloyd