The City of Richardson, KDC and State Farm on Thursday celebrated the groundbreaking for a new 186-acre master-planned project at Bush Turnpike and US 75 (Central Expressway). State Farm will lease 1.5 million square feet in three towers at the heart of the transit-oriented development that are currently under construction.
In addition to the three office towers, the development surrounding the Dallas Area Rapid Transit (DART) Bush Turnpike light rail station will include retail, restaurants, multi-family residential, a hotel and other amenities. Richardson Mayor Laura Maczka welcomed State Farm and the development as a whole to the community.
“We work hard in Richardson to provide quality infrastructure and a business-friendly atmosphere to attract signature employers and developments such as this,” she said. “We feel very fortunate to be the site for this project, and we look forward to the destination retail and other mixed-use amenities that this transit-oriented development will bring to the community.”
The three towers are part of KDC’s $1.5 billion master-planned project in Richardson near the intersection of Bush Turnpike and US 75. The Class A office buildings will consist of a 13-story tower, 15-story tower and 21-story tower. Each tower is situated on a five-level parking structure along with ground floor retail space.
“This is an exciting day for KDC as we officially break ground on the largest and most visionary development in our history,” said KDC Chief Executive Officer Steve Van Amburgh. “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.”
The new facilities will serve as a hub that will provide claims, service and sales support to State Farm customers. The site will be staffed by a combination of new hires and existing employees. With the complex, State Farm will be the largest employer in Richardson.
“The creation of a larger multi-functional facility in Richardson is one of many changes we’re making to better meet the ever expanding needs of our customers,” said State Farm Senior Vice President Mary Crego. “We’re pleased to be a bigger part of the Richardson community as we position State Farm to better serve communities across North America.”
The office towers are slated for early 2015 occupancy. KDC plans to achieve LEED® Silver certification from the U.S. Green Building Council. LEED is an internationally recognized green building certification system, providing third-party verification that a building was designed and built using strategies aimed at improving overall performance and sustainability.
In December 2012, KDC announced the acquisition of 186 acres of land 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.
“KDC has been a longtime partner in Richardson, and we’re ecstatic to be working with the group again on this project,” said Richardson City Manager Dan Johnson. “Richardson is the heart of the second-largest employment center in the Metroplex, and we wanted to see something special occur at this important crossroads of US 75, the President George Bush Turnpike and the DART station. The State Farm development is a perfect fit for that location and builds on our goals to develop contemporary business settings that are being sought by companies and their employees.”
The first phase of KDC’s development will include the three office towers, just under 1,000 multi-family residential units, a 150-room select service hotel, a health clinic and fitness facility and more than 75,000 square feet of retail and restaurants.
Once all phases of KDC’s Richardson master-planned community are complete, it will include 5 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. 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.