NexPoint Advisors is ramping up redevelopment plans at the former Electronic Data Systems headquarters in Plano.
The Dallas-based firm, led by James Dondero, wants to build up to 775 residential units and a hotel at 5400 Legacy Drive, adding to its ambitious plan to transform the 91-acre office campus into a $3 billion, 200-acre life sciences campus, the Dallas Morning News reported.
NexPoint has explored ideas for the 1.6 million-square-foot complex since buying the main property for an estimated $125 million in 2018. It later acquired surrounding land. The property was previously owned by Hewlett Packard and DXC Technology.
Dubbed the Texas Research Quarter, it is slated for more than 4 million square feet of lab, office and therapeutic space. NexPoint wants to include mid-rise residential buildings and a small hotel with conference space along Parkwood Boulevard, south of Legacy Drive, the outlet said.
“The request largely maintains the existing campus development form, while adding new buildings, landscaping and amenities,” according to Plano zoning documents. “The applicant states that this portion of the development is necessary to attract a large employer to the site.”
Construction of the residences and hotel would follow the EDS redevelopment.
NexPoint wants to add a community park and educational facilities to the main campus, the outlet said, citing a letter to the planning department. The firm also mentioned that a cancer center and research hospital could be built on one of the adjacent parcels.
The campus is next to the sprawling Legacy business park, a 3,000-acre development that’s one of the largest employment centers in Texas.
—Quinn Donoghue
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