Wells Fargo revealed as ‘confidential partner’ behind $200M Las Colinas campus

The city of Irving is set to vote on more than $30M in tax incentives for the project

KDC's Steve Van Amburgh
KDC's Steve Van Amburgh (KDC, Getty)

It’s official. One of the nation’s largest banks is planning to build a $200 million lakeside office campus in Las Colinas.

Last Month, KDC Real Estate Development secured funding for a two-building complex on the corner of West Las Colinas Boulevard and Promenade Parkway, stretching along the north shore of Lake Carolyn. But mum was the word on an anchor tenant.

At the time, company executive David Fisk told the Irving planning commission that KDC was working with a “confidential partner” on the 22-acre office development. Now, the Dallas Morning News confirmed that San Francisco-based banking giant Wells Fargo will be moving in, along with 4,000 employees.

On August 4, the Irving City Council will vote on more than $30 million in financial incentives for the bank’s new regional hub. The agreement includes $12 million to support the construction of the office complex, plus an additional $19 million in tax increment finance funds to build a 4,000-space parking garage and reclaim a piece of the lake between the two adjacent parcels south of the Promenade Parkway.

The agreement with Irving calls for Wells Fargo to occupy a minimum of 800,000 square feet by December 2026.

Maddy Sperling

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