Dallas-based NexPoint Development is in early talks with the city of Plano to transform a 1.6 million-square-foot former EDS campus and adjacent land into a life sciences hub, according to the Dallas Morning News.
The alternative investment firm would aim to invest $3.6 billion in the redevelopment project—called Technology x Science, or the TxS District for short—and partner with the city through its economic development incentive programs, according to the report.
Plano city manager Mark Israelson told the DMN the public-private vision—already in discussions for a year—would retool a core part of the city’s Legacy Business Park, and could provide Plano “with an opportunity to compete with New England and Southern California for industry-leading jobs and programs.”
NexPoint bought former EDS Plano campus in 2018
The project’s center would be the former Electronic Data Systems campus at 5400 Legacy Drive, which NexPoint acquired in 2018. “If we develop this, we have to bring a 1980s building into the 21st century,” NexPoint President Frank Zaccanelli told the DMN.
Meant to complement, not compete with, the The Biotech+ Hub at Pegasus Park, the TxS District plan has involved discussions with Dallas-based JLL and the Waco-based Perryman Group, whose president and CEO, Ray Perryman, told the DMN, “The NexPoint life sciences campus is an important project with the scope to make a real difference, bringing in tenants, workers, researchers and guests from around the world. Once mature, it will likely generate billions in economic output and tens of thousands of jobs.”
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