Plano City Council Approves Texas Research Quarter, a $4 Billion Life Science Innovation District
The Plano City Council has given the green light to the development of the Texas Research Quarter (TRQ), an innovation district focused on life sciences. The council approved a development agreement with NexPoint Development Company, which is expected to bring in up to $4 billion in investment. As part of this agreement, up to $15 million will be allocated for the first phase of development, estimated at around $150 million.
The initial phase will focus on revitalizing and constructing new buildings at the former Electronic Data Systems (EDS) headquarters site spanning 91 acres. This area will serve as TRQ’s main campus while future phases include further redevelopment within this campus and expansion into adjacent properties for an integrated multisite district.
Construction for Phase 1 is anticipated to begin towards late 2024 and completion is targeted for early 2026 when it plans on delivering over three million square feet of state-of-the-art life science facilities within its main campus.
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