RICHARDSON, TX-An official groundbreaking ceremony took place this morning on State Farm's 1.5-million-square-foot complex. Construction has already begun on the three office buildings, which are scheduled for occupancy by early 2015. The buildings are the cornerstone of KDC's $1.5-billion, 186-acre, mixed-use, as yet unnamed development, located at George Bush Turnpike and North Central Expressway (US 75). KDC plans to achieve LEED Silver certification from the US Green Building Council.
State Farm has signed a lease to occupy the facilities, which will serve as a hub that will provide claims, service and sales support to State Farm customers. Once completed, the buildings will be able to accommodate up to 8,000 State Farm employees. Randy Cooper and Craig Wilson with Cassidy Turley represented State Farm in the real estate transaction. Austin Commercial is the general contractor and Corgan Architects is the shell building and interiors architect.
“This is an exciting day for KDC as we officially break ground on the largest and most visionary development in our history,” says Steve Van Amburgh, KDC's CEO. “Offering this kind of creative development to North Texans, adjacent to the DART light rail system, is what the work force of today is seeking and residents and visitors expect. We plan to deliver everything from office to entertainment in a very inviting and pedestrian-friendly environment.”
In December 2012, KDC announced the acquisition of 186 acres to develop a master-planned project in Richardson. KDC's project, adjacent to the Dallas Area Rapid Transit's (DART) Bush Turnpike Station on its Red Line, will be a transit-oriented development on the east and west sides of Plano Road.
The east side includes the 147.5 acres of land on the north side of Renner Road, between Plano Road and Wyndham Lane. The west side includes 38.5 acres of land south of President George Bush Turnpike between Plano Road and the DART light rail tracks.
Upon completion, the development will support five million square feet of office space, 300,000 square feet of grocery, restaurant and retail space, 3,925 multi-family residential units and two hotels.
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