Proposed development would create a life science ecosystem with world-class lab, office, and therapeutic production space
PLANO, Texas, Feb. 7, 2023 /PRNewswire/ — NexPoint, a multibillion-dollar alternative investment firm, announces plans for TxS District, a proposed 200-acre life sciences development in Plano, Texas. The project, named to signify “Technology x Science,” is designed to foster innovation and collaboration among companies and institutions across the life science sector.
The project centers on the 91-acre main campus, which previously served as headquarters for Electronic Data Systems (EDS). The district would incorporate 109 additional acres in the Legacy neighborhood. In total, the project would create over 4 million square feet of lab, office, and therapeutic production space across four phases of construction.
Phases one and two propose transforming 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. Initial site improvement plans also include a public park, an amphitheater, and connectivity to the nearby Legacy retail development.
NexPoint believes the proposed project can be achieved through a public-private partnership. The firm is engaging with the City of Plano about NexPoint’s development plans and the project’s impact on the surrounding area.
“Not only would this project be a major economic catalyst for the region, but it would also establish North Texas as a leader in life sciences,” said James Dondero, NexPoint founder and principal.
“Plano is the ideal location for this project,” said Frank Zaccanelli, president of NexPoint Development Company, the development arm of NexPoint’s real estate platform. “We hope to partner with the City to transform these properties into a thriving life science district and bring high-paying jobs to the Plano area.”
NexPoint is collaborating with CRB, a leading global provider of sustainable engineering, architecture, construction, and consulting solutions to the life sciences industry, to provide architectural and engineering services throughout the four proposed phases of construction.
“Co-locating research alongside production is crucial for new technologies and nimble solutions,” said Eric Danielson, senior director of business development for CRB. “NexPoint’s project would do so sustainably, by transforming the large, well located and well featured campus into a vibrant facility that will benefit all tenants. We are excited to help bring this vision to life.”
NexPoint engaged JLL as the project’s leasing agent. JLL has a dedicated life sciences team that works across the country and has been involved in the development of some of the top life sciences ecosystems in the U.S.
“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,” said JLL’s Matt Daniels. “With cutting-edge research facilities and new federal policies promoting the repatriation of drug manufacturing, and a tight labor market in coastal life science hubs, Plano is poised to become a top choice for companies seeking expansion and solutions.”
NexPoint purchased the main campus in 2018 and has been acquiring the additional acreage since then. The firm has been involved in several life science deals including its investment in IQHQ, a life science REIT that operates in life science clusters on the East and West Coasts.
TxS District would be an integral part of NexPoint’s planned growth within life sciences. In addition to life science real estate, NexPoint is making direct investments in biotech companies and other public and private healthcare businesses through its corporate credit and equities group.
“NexPoint is positioned to be a leader in the life science space,” said Dondero. “Through TxS District and other ventures we plan to continue to grow our life science business across the NexPoint platform.”
More information about NexPoint’s TxS District plans can be found at nexpoint.com/txs-coming-soon/.
NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. NexPoint provides differentiated access to alternatives through a range of investment solutions, including public and private real estate investment trusts, tax-advantaged real estate vehicles, merger arbitrage and event driven strategies, other private real estate investments, closed-end funds, interval funds, and a business development company. NexPoint is based in Dallas, Texas and is part of a network of affiliates with expertise across the asset management and financial services spaces. For more information visit nexpoint.com.
CRB is a leading global provider of sustainable engineering, architecture, construction, and consulting solutions to the life sciences and food and beverage industries. Our innovative ONEsolution™ service provides successful integrated project delivery for clients demanding high-quality solutions — on time and on budget. Across 21 offices in North America and Europe, the company’s nearly 1,800 employees provide world-class, technically preeminent solutions that drive success and positive change for clients and communities. See our work at crbgroup.com, and connect with us on social media here.
Brendan McGrail, Prosek Partners for NexPoint
Chris Clark, CRB
Bonnie Quintanilla, Clarity Quest Marketing for CRB