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NORTH TEXAS (CBS11) – Dallas-Fort Worth is second only to New York City with the most new construction.
Many of the large construction projects are not only reshaping the skylines around North Texas but reshaping the area’s future. Here are the top five current construction projects that will have the biggest impact (in no particular order).
1. Toyota North American Headquarters (Plano) – There should be no surprise that Toyota’s new corporate campus in west Plano made the list. Come the summer of 2017, more than 4,000 employees will be moving into the campus’ seven buildings. The project’s impact, however; extends far beyond the construction site. Over the next ten years, Toyota is expected to have a $7-billion impact on the local economy. It has already led to the construction of new luxury apartments and retail in the Legacy West area. Plus, since Toyota’s relocation announcement several other corporation have made plans to relocate to the west Plano area.
2. The Drever (Dallas) – This 50-story building at 1401 Elm Street in downtown Dallas was once the tallest tower west of the Mississippi. For the past six years, it’s been the tallest vacant building in Dallas. However, under the ownership of Calfornia-based Drever Capital Management, the former First National Bank building is undergoing the largest renovation project of its kind in Dallas. The downtown skyscraper is being converted into apartments, a luxury hotel and a spa. This project, which is set to be complete in 2018, is leading a flurry of development all across the city’s urban core.
3. Facebook Data Center (Fort Worth) – The City of Fort Worth agreed to the largest incentive deal in the city’s history to entice Facebook build a $1-billion-plus massive data center off of the Alliance Gateway Freeway. The first of three buildings is officially expected to open late this year, and eventually there will be more than a hundred employees working at the center. However, the real impact city officials are banking on is that the data center and the Facebook name will attract other high-tech companies to the Fort Worth-area.
4. Frisco Station (Frisco) – Wrapping around the Dallas Cowboys’ new headquarters in Frisco is the largest construction project in all of DFW. Crews began construction in October on a seven-story office building in what will be the first of several groundbreakings in the coming months. The 242-acre development off of Warren Parkway and the Dallas North Tollway will eventually feature luxury apartments, a corporate campus and an entertainment district called the Hub. What the developer said makes this project unique, besides its size, is its focus on health. Frisco Station will have a health and wellness district, 29 acres of park space, and a six-mile walking trail.
5. Wade Park (Frisco) – Just on the other side of the Dallas North Tollway off of Lebanon Road in Frisco sits the construction site of another massive mixed-use development project. The $1.6-billion Wade Park project will feature two sixteen-story office buildings, a 33-story hotel, a movie theater, and more than a dozens restaurants. Whole Foods, iPic Theaters and nearly a dozen of restaurant have already signed on with the development. Originally Wade Park was supposed to open last spring, now the first phase of the shopping center is not expected to be ready until the fall 2017.
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