{"id":1004080629,"date":"2013-07-22T05:44:44","date_gmt":"2013-07-22T13:44:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=149087"},"modified":"2022-03-04T15:06:13","modified_gmt":"2022-03-04T23:06:13","slug":"kdc-breaks-ground-on-1-5b-mixed-use-complex-in-richardson","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kdc-breaks-ground-on-1-5b-mixed-use-complex-in-richardson\/","title":{"rendered":"KDC Breaks Ground on $1.5B Mixed-Use Complex in Richardson"},"content":{"rendered":"<p><em>By Amalia Otet, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">KDC Real Estate Development &amp; Investments, along with anchor tenant State Farm Insurance, ceremonially broke ground last week on its $1.5 billion mixed-use development in Richardson.<\/p>\n<p style=\"text-align: justify\">In a deal touted as the largest lease in North Texas history, the Illinois-based insurance company will occupy 1.5 million square feet of <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/State-Farm-campus-in-Richardson-via-the-Pantagraph.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-149102 alignright\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/State-Farm-campus-in-Richardson-via-the-Pantagraph.jpg\" alt=\"\" width=\"300\" height=\"199\" \/><\/a>office space in three towers of the massive construction project.<\/p>\n<p style=\"text-align: justify\">Scheduled for completion in early 2015, the new State Farm complex was designed by Dallas architect Corgan Associates. Austin Commercial is the general contractor.<\/p>\n<p style=\"text-align: justify\">The high-profile facility is expected to become one of the region&#8217;s biggest employment centers, generating approximately 8,000 new jobs, according to the <a title=\"The Dallas Morning News\" href=\"https:\/\/bizbeatblog.dallasnews.com\/2013\/07\/new-state-farm-complex-in-richardson-will-have-room-for-8000-workers.html\/\" target=\"_blank\" rel=\"nofollow noopener\"><em>Dallas Morning News<\/em><\/a>.<\/p>\n<p style=\"text-align: justify\">Located at State Highway 190 and Plano Road, right next to DART, US-75 and the George Bush Turnpike, the 185-acre project will ultimately include several build-to-suit office assets, an integrated healthcare facility, 3,925 multi-family residential units, two hotels, retail and restaurants.<\/p>\n<p style=\"text-align: justify\">&#8220;We started out with a vision of what this property could be and worked alongside the city of Richardson to make it happen,&#8221; said KDC CEO Steve Van Amburgh in a statement. &#8220;The development will have a great <a title=\"State Farm campus in Richardson via The Pantagraph\" href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/State-Farm-Texas-via-The%20Pantagraph.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-149101 alignleft\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/State-Farm-Texas-groundbreaking-via-pantagraph.jpg\" alt=\"\" width=\"300\" height=\"172\" \/><\/a>mix of amenities in a pedestrian-friendly environment that is inviting to corporate users and the community. The transit-oriented development will be a great addition to Richardson\u2019s vitality.&#8221;<\/p>\n<p style=\"text-align: justify\">Last month, State Farm unveiled plans for a $600 million, five-building campus in downtown Tempe, Ariz., which will be similar to the North Texas operations hub. Dubbed <a title=\"Read more on Commercial Property Executive\" href=\"https:\/\/www.commercialsearch.com\/news\/cities\/phoenix\/ryan-cos-sunbelt-holdings-team-for-600m-tempe-project-dmb-opens-mesa-master-planned-community\/\">Marina Heights<\/a>, the project will include more than 2 million square feet of office and retail space on a 20-acre site adjacent to Tempe Town Lake.<\/p>\n<p><em>Renderings courtesy of <a title=\"See more architect renderings of the project on The Pantagraph\" href=\"https:\/\/www.pantagraph.com\/gallery\/news\/local\/photos-state-farm-texas-groundbreaking\/collection_971d912a-ea75-11e2-8a08-0019bb2963f4.html#0\" target=\"_blank\" rel=\"nofollow noopener\">The Pantagraph<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KDC Real Estate Development &amp; Investments, along with anchor tenant State Farm Insurance, ceremonially broke ground last week on its $1.5 billion mixed-use development in Richardson.<\/p>\n","protected":false},"author":39,"featured_media":1004507279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586],"tags":[],"class_list":["post-1004080629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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