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Texas

KDC Real Estate wins approval to develop two-building office park

Project is reportedly ‘Project Falcon’ — Wells Fargo’s secretive plan for a North Texas office

KDC's David Fisk with rendering of planned Las Colinas development (KDC)
KDC's David Fisk with rendering of planned Las Colinas development (KDC)

Las Colinas has another corporate campus in the works.

The latest developer to secure funding for a Las Colinas project is KDC Real Estate Development. The firm presented the project to the Irving planning commission Tuesday night and received unanimous approval. The office campus would house workers for banking giant Wells Fargo, the Dallas Morning News reports.

KDC is working with a “confidential partner” on the project, Senior VP David Fisk told the planning panel. For more than a year, developer KDC and Irving officials have been working on the development for Project Falcon —the code name for Wells Fargo’s North Texas office search, says DMN.

Plans presented to the panel include a two-building complex on the corner of West Las Colinas Boulevard and Promenade Parkway, stretching along the north shore of Lake Carolyn.

Nestled between the Dallas and Fort Worth city centers, and boasting luxury hotels, golf courses, private country clubs, and easy access to the airport, Las Colinas has become a popular spot for corporate relocations in recent years.

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Developers and investors alike have been snapping up office towers and lots across the area. Earlier this year, Toll Brothers Apartment Living announced a $78 million upscale multifamily complex in the Las Colinas area next to the ExxonMobil corporate headquarters campus. More recently, Partners Group and Trinity Fund Advisors bought the Four Seasons Resort Dallas at Las Colinas with plans for “a multi-million dollar’’ renovation.

The latest developer drawn to the corporate community, KDC, has developed North Texas campuses for Toyota, JPMorgan Chase, State Farm Insurance and other major employers.

Last month, the company announced a 2,500-acre development called Fields Frisco— a corporate campus built on top of the Fields family ranch. The developer’s plans promise to create “Frisco’s new urban core,” by building Collin County’s tallest office tower and its first five-star hotel. The project will also include a 500-acre section dedicated to the headquarters of PGA of America with two golf courses and the Omni PGA Frisco Resort.

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[DMN] — Maddy Sperling

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Dallas-Fort WorthLas Colinas