A huge Irving development that would house thousands of workers has been approved by the city’s planning commission.
The 20+ acre project is to be built near the corner of West Las Colinas Boulevard and Promenade Parkway in Las Colinas.
The office campus would house employees of banking giant Wells Fargo, according to real estate brokers.
Project developer KDC, which has completed office campuses in North Texas for Toyota, JPMorgan Chase, State Farm Insurance and other large employers, presented the project to the Irving Plan Commission on Tuesday evening and received a unanimous approval.
“We are partnering with our confidential client to develop this project,” KDC senior vice president David Fisk told the planning panel. “This first phase is 800,000 square feet of office space and is proposed for 4,000 employees.”
The office campus would be located on the north shore of Lake Carolyn and would feature a landscaped open space as well as a pedestrian promenade along the shore.
“Overall, the site is 22 acres and our client’s planned final construction is 1.6 million square feet,” Fisk said. “The site is beautifully landscaped.
“There are plenty of gathering places and outdoor dining experiences for these employees.”
Fisk said the first phase of the office campus would consist of two buildings which, according to the architects’ renderings, would be about 10 stories high each. The planned offices would be connected to a large parking lot with a pedestrian bridge crossing Promenade Parkway.
The large lakefront development sits on the largest remaining vacant site in the Las Colinas Urban Center – a mixed-use neighborhood on the northeast side of State Highway 114 on O’Connor Boulevard.
For more than a year, developer KDC and Irving officials have been working to develop Project Falcon, the codename for Wells Fargo’s North Texas office search.
Realtors said months ago that the bank had chosen the Las Colinas site as the location for a new regional office center. The campus site is near the Irving Toyota Music Factory, the Westin Hotel, and the Irving Convention Center.
So far, Wells Fargo representatives have only noted that the California-based bank is “continually evaluating our real estate portfolio” and officials “have nothing to share at this time.”
Along with the new offices, the Irving Planning Commission has also approved a connected mixed-use development that would include between 340 and 400 apartments plus a restaurant and retail space. Dallas architect GFF designed the project.
“Along Las Colinas Boulevard, directly across from the Music Factory, there will be seven stories of multi-family buildings with retail and a restaurant on the ground floor,” said Michael Maddox, general manager and owner. Mirasol Capital.
An independent restaurant and retail building would be constructed on the south end of the property facing the lake and boardwalk.
“It connects beautifully with the Music Factory across the street and connects with the whole neighborhood,” Maddox said.
Mirasol Capital – a Carrollton-based investment founded by RealPage founder Steve Winn – owns the entire site, including the campus location of the KDC office.
The first phase of the Las Colinas campus, according to real estate brokers, which will be used by Wells Fargo is about the same size as another major financial company project near downtown Dallas. New York-based Goldman Sachs just received financial incentives from the city for the planned 5,000-job office campus just north of downtown near Victory Park.
Dallas-Fort Worth is one of the nation’s largest employment centers for financial firms, which have moved thousands of workers to North Texas over the past decade.