When Plano’s $3 billion Legacy West project recently opened its doors, city leaders proclaimed it was the center of the universe.
Well, the universe is expanding.
Growing traffic congestion and tightening labor pools around the intersection of State Highway 121 and the Dallas North Tollway are sending some big companies looking at other alternatives.
Two of the new corporate campuses for financial services firms aren’t in Plano or Frisco — they are under construction in Northeast Tarrant County.
San Francisco based financial service firm Charles Schwab is starting the dirt flying for its new 500,000-square-foot service center on the Circle T Ranch at State Highway 114.
More than a thousand people will work in the complex when it opens in 2019.
Not too far away in Southlake, company is building its 355,000-square-foot office complex on State Highway 114 next to the Solana business park.
More than 1,000 TD Ameritrade workers that are now located in two buildings in North Fort Worth will be moved to the new Southlake campus when its finished. The project is built to eventually house as many as 2,000 workers.
Over in Collin County in the U.S. Highway 75 corridor, Allen and McKinney are landing new business deals with companies looking for more affordable locations and less congestion.
Independent Bank Group just announced plans for its 10-acre headquarters in McKinney that could eventually house more than 1,000 workers.
And next door in Allen, Massachusetts-based NetScout Systems Inc. will relocate its regional office and research facility from Plano to a 145,000-square-foot office building to be developed near Bethany Drive west of U.S. 75.
JLL’s Greg Biggs thinks that more companies will look at locations down the road from the boom taking place in West Plano and Frisco. While the tollway corridor is still ground zero, not everybody wants to be at the corner of Main and Main, he says.
“Traffic has become really a challenge,” Biggs said. “Some companies are looking at alternative locations to put their offices for that very reason.
“McKinney and Allen are really starting to make some headway.”