NexPoint, a Dallas-based alternative investment firm, is planning a 200-acre life science development campus called TxS District on the 91-acre former site of H. Ross Perot’s Electronic Data Systems company and additional land in Plano, Texas.
TxS stands for Technology x Science and is designed to foster innovation and collaboration among companies across the life science sector. NexPoint would like the proposed project to be built through a public-private partnership. The firm is discussing its development plans and the project’s impact on the surrounding area with the City of Plano.
In addition to the 91 acres that previously served as headquarters for EDS, a technology services company founded in 1962 by the late billionaire and former presidential candidate, NexPoint would add 109 acres in the Legacy neighborhood to the development site. Plans call for more than 4 million square feet of lab, office and therapeutic production space across four phases of construction.
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NexPoint purchased the main campus in 2018 and has since been acquiring the additional acreage. The first and second phases would transform two existing buildings on the main campus into 970,000 square feet of world-class lab and office space and 120,000 square feet of amenity space. Site improvement plans also include a public park, an amphitheater and connectivity to the nearby Legacy retail development.
James Dondero, NexPoint founder & principal, calls the proposed TxS District a major economic catalyst that would establish North Texas as a leader in the life science sector. He said in prepared remarks NexPoint plans to continue to grow its life science business through TxS District and other ventures. The firm has been involved in several life science deals including its investment in IQHQ, a life science REIT that operates life science clusters on the East and West Coasts. NexPoint also makes direct investments in biotech companies and other public and private health-care businesses through its corporate credits and equities group.
NexPoint is collaborating with CRB, a global provider of sustainable engineering, architecture, construction and consulting solutions to the life science industry, to provide architectural and engineering services throughout the proposed four phases of construction.
Eric Danielson, senior director of business development for CRB, said in a prepared statement co-locating research along with production is crucial for new technologies and nimble solutions. He said NexPoint’s planned project would sustainably transform the large, well-located and well-featured campus into a vibrant facility that will benefit all tenants.
JLL has been named the project’s leasing agent. The firm has a dedicated life science team that works across the country and has been involved in the development of some of the top life science ecosystems in the U.S.
Matt Daniels, a JLL executive managing director, said in a prepared statement the TxS project would be unique in its ability to support life science companies at any point in the process: discovery, early-stage development and commercialization. Daniels noted Plano is poised to become a top choice for companies seeking expansion and solutions due to its cutting-edge research facilities and new federal policies promoting the repatriation of drug manufacturing, and a tight labor market in coastal life science hubs.