- A KDC-affiliated LLC filed 11 state projects for AT&T’s Plano campus, with construction costs topping $1B, a Dec. 1 start and a March 31, 2029 finish.
- The filings cover seven office buildings from 215,700 to 679,000 SF, a 32,000 SF utility plant and three garages, but none for Building 5.
- Plano’s $20M incentive, its largest ever, requires AT&T to spend at least $1.35B, build 2M SF, employ 10,000 workers and stay for 25 years.
A KDC-affiliated company has told Texas regulators in state filings that work on AT&T’s Plano headquarters begins Dec. 1, The Dallas Morning News reported.
The LLC registered 11 projects on Wednesday spanning the campus, and the combined price tag for buildings and garages runs past $1 billion.
Get Smarter About What Matters in Texas
Subscribe to our free newsletter covering the biggest commercial real estate stories across Texas — delivered in just 5 minutes.
What the Filings Show
Records from the Texas Department of Licensing and Regulation put the start at Dec. 1 and completion at March 31, 2029, the Morning News reported. Neither AT&T nor KDC would discuss the filings with the paper.
The owner of the project is KDC Legacy Eagle HQ Development One, LLC, according to the filings. A KDC-affiliated LLC bought the 54-acre site from affiliates of NexPoint Development.
Building by Building
Per the Morning News, Building 4 is the largest at 679,000 SF and an estimated $201 million. Building 1 follows at 249,000 SF and $115.4 million, and Building 7 adds 318,000 SF with a fitness center at $98.6 million.
The Morning News said other filings cover Buildings 2, 3, 6 and 8, plus a 32,000 SF central utility plant estimated at $75.8 million and three above-grade garages totaling about 2.3 million SF. Building 8 includes a food hall, and the paper found no filing for Building 5.
The seven filed office buildings add up to roughly 2.2 million SF by CRE Daily’s tally, which is already above the 2 million SF minimum in the city agreement.
Incentives Come With Strings
Plano’s council granted $20 million in incentives, the biggest award the city has given a private employer, according to the Morning News. AT&T also gets a rebate of 65% of property taxes on site improvements, running 25 years from 2030, and the paper reported it could run ten more years at a 25% rate if AT&T purchases the site.
AT&T’s Chapter 380 deal commits it to at least $1.35 billion of construction spending, 2 million SF of space spanning offices, amenities and retail, 10,000 full-time employees on site and a 25-year occupancy, the Morning News reported. CRE Daily detailed the JPMorgan’s $400M loan backing the project.
Why It Matters
The campus replaces the old EDS headquarters, a company Ross Perot Sr. started, at 5400 Legacy Drive. The Morning News reported that demolition has cleared most of the site, including the “God Pod” executive buildings, which came down by implosion in early August.
AT&T said in January it would leave downtown Dallas for the 54-acre site, the Morning News noted, so the filings mark the move from announcement to construction.
What’s Next
The Morning News called it a developing story, so expect updates after the Dec. 1 start. CEO John Stankey previously said AT&T could partially occupy the campus in the second half of 2028, ahead of the March 2029 completion date in the filings.
