NexPoint Advisors is ramping up plans for the redevelopment of the former Electronic Data Systems headquarters in Plano.
The Dallas-based company, led by James Dondero, hopes to build as many as 775 residential units and a hotel at 5400 Legacy Drive, furthering its ambitious plan to transform the 91-acre office park into a $3 billion Dollar, 200-acre Life Sciences Campus, Dallas Morning News report.
NexPoint has been exploring the idea of building the 1.6 million-square-foot complex since purchasing the main property in 2018 for an estimated $125 million. It later acquired the surrounding land. The property was previously owned by Hewlett-Packard and DXC Technology.
Known as the Texas Research District, it is expected to have more than 4 million square feet of laboratory, office and treatment space. NexPoint wants to build mid-rise residential buildings and a small hotel with meeting space along Parkwood Boulevard, south of Legacy Drive, the publication said.
“This requirement largely maintains the existing campus development while adding new buildings, landscaping, and amenities,” the Plano zoning document states. Location is necessary.”
Construction of residences and hotels will follow the EDS reconstruction.
The outlet cited a letter to the planning department saying NexPoint wanted to add a community park and educational facility to the main campus. The company also mentioned that a cancer center and research hospital could be built on one of the adjacent sites.
The campus is adjacent to the sprawling Legacy Business Park, a 3,000-acre development that is one of the largest employment centers in Texas.
— Quinn Donoghue