Update, May 19, 2023: NexPoint has announced that the project detailed in this article has been renamed from the TxS District to the “Texas Research Quarter,” or TRQ.
Plans and renderings have been revealed for the TxS District, 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.
Dallas-based multibillion-dollar alternative investment firm NexPoint announced the TxS project, short for “Technology x Science.” The Plano hub is aimed at fostering innovation and collaboration among companies and institutions across the life science sector, NexPoint said.
“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,” James Dondero, NexPoint founder and principal, said in a statement.
To be centered at former EDS headquarters campus
The project centers on the 91-acre main campus that previously served as headquarters for Electronic Data Systems. The district would incorporate 109 additional acres in the neighborhood of Plano’s Legacy development. In total, the project would create over 4 million square feet of lab, office, and therapeutic production space spanning four phases of construction.
Potential $3.6B investment could include public park, amphitheater, and Legacy connection
Phases one and two would see two existing buildings on the main campus transformed into 970,000 square feet of “world-class lab and office space” and 120,000 square feet of amenity space, NexPoint said. Initial site improvement plans also include a public park, an amphitheater, and connectivity to the nearby Legacy retail development, the company said.
NexPoint said it believes the proposed project can be achieved via a public-private partnership. It’s currently engaging with the city of Plano about the development plans and the project’s impact on the surrounding area.
“Plano is the ideal location for this project,” Frank Zaccanelli, president of NexPoint Development Co., the development arm of NexPoint’s real estate platform, said in a statement. “We hope to partner with the city to transform these properties into a thriving life science district and bring high-paying jobs to the Plano area.”
Zaccanelli previously told the Dallas Morning News, “If we develop this, we have to bring a 1980s building into the 21st century.” His company told the DMN it’s ready to invest over $3.6 billion into the project—with help from the city of Plano’s economic development incentive programs.
Aiming to ‘complement’ the Biotech+ Hub at Pegasus Park
Developers said the project is intended to complement, not compete with, the existing Biotech+ Hub at Pegasus Park, a 23-acre future-focused campus in what previously was an ExxonMobil building off the Stemmons Freeway in Dallas.
NexPoint said it is collaborating with CRB, a global provider of sustainable engineering, architecture, construction, and consulting solutions to the life sciences industry, to provide architectural and engineering services throughout the four proposed phases of construction.
“Co-locating research alongside production is crucial for new technologies and nimble solutions,” Eric Danielson, senior director of business development for CRB, said in a statement. “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. We are excited to help bring this vision to life.”
JLL engaged as leasing agent
NexPoint said it engaged JLL as the project’s leasing agent.
“The TxS project would be unique in its ability to support life science companies at any point in the process: discovery, early-stage development, and commercialization,” JLL’s Matt Daniels said. “With cutting-edge research facilities and new federal policies promoting the repatriation of drug manufacturing, and a tight labor market in coastal life science hubs, Plano is poised to become a top choice for companies seeking expansion and solutions.”
NexPoint acquired the EDS campus in 2018
NexPoint acquired the main campus in 2018 and has been acquiring the additional acreage since then. The company has been involved in several life science deals, including its investment in IQHQ, a life science REIT that operates in life science clusters on the East and West Coasts.
TxS District would be an integral part of NexPoint’s planned growth within life sciences, the company said. In addition to life science real estate, NexPoint said it is making direct investments in biotech companies and other public and private healthcare businesses through its corporate credit and equities group.
“NexPoint is positioned to be a leader in the life science space,” Dondero said. “Through TxS District and other ventures we plan to continue to grow our life science business across the NexPoint platform.”
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