“The new TRQ moniker reflects the scope and scale of the project.”
Frank Zaccanelli
President
NexPoint Development Company
.…on NexPoint’s life sciences development project in Plano being renamed from the TxS District to the “Texas Research Quarter.”
In February, Dallas-based multibillion-dollar alternative investment firm NexPoint revealed plans and renderings for a proposed 200-acre life sciences development in Plano that could eventually create over 4 million square feet of lab, office, and therapeutic production space.
At the time, the working title for the development was the TxS District, short for Technology x Science. But today NexPoint announced that the project has been renamed to something bigger and bolder: the “Texas Research Quarter,” or TRQ.
The new name was chosen “to better reflect the commitment to innovation and collaboration among companies and organizations across the life science sector,” NexPoint said. “This focus echoes and complements NexPoint’s own ongoing initiatives to further support and foster real estate development on behalf of the life sciences industry across the U.S.”
Aiming to put Texas on the map in life sciences
Texas Research Quarter rendering: Lobby West Entry. [Image: NexPoint]
Frank Zaccanelli, president of NexPoint Development Company, the development arm of NexPoint’s real estate platform, said the project in Plano “has the potential to put Texas on the map in life sciences, while serving as a major catalyst for economic development in the region.”
The TRQ is centered around a 91-acre main campus that formerly housed the headquarters for Electronic Data Systems. NexPoint acquired the property in 2018. The proposed project will incorporate 109 additional acres in the Legacy neighborhood, the company said.
NexPoint says the project’s impact on the local economy will be significant, generating “nearly $3.8 billion in gross product and 38,405 job-years of employment in the Dallas-Fort Worth area.”
TRQ is “an integral part of NexPoint’s continued push into real estate development in support of the life sciences industry,” the company said.
The company has made numerous direct investments in biotech companies and other public and private healthcare businesses through its corporate credit and equities group and has made investments in life science clusters on the East and West Coasts. Just yesterday, we told you about NexPoint’s acquisition of two industrial properties in Philadelphia from Frontida Biopharma LLC, part of the Adare Pharma Solutions group, a company specializing in oral dosage forms for the pharmaceutical industry.
To see more renderings of the planned TRQ and learn more about NexPoint’s plans, check out our February story.
Texas Research Quarter rendering: Exterior east entry of former EDS headquarters building. [Image: NexPoint]
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R E A D N E X T
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Dallas-based alternative investment firm NexPoint has revealed details and renderings of its planned 200-acre TxS District, short for "Technology x Science." Centered on the former headquarters campus of EDS in Plano's Legacy development, the life sciences hub could eventually offer over 4 million square feet of lab, office, and therapeutic production space. "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.
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