Allen Tech Hub Among City’s 2Million SquareFeet of New Commercial Development Amid Covid-19, that activity is business resilience on display, the Allen EDC says. The city's just-announced 105, 000-square-foot tech-focused office project is expected to break ground next year. It aims to support a growing technology industry in a city that ranks 28 percent higher in tech-job concentration than the national average.
Allen ranks 28 percent higher in tech job concentration than the national average and Dallas-Fort Worth has the seventh-largest concentration of high-tech jobs in the U.S., according to the Allen Economic Development Corporation. With that being said, it should come as no surprise that a technology-focused hub is coming to Allen.
The Allen EDC, which assists in company relocations and business expansions in Allen, says the 105, 000-square-foot Allen Tech Hub is set to break ground in the next year. The Class A office project will support Dallas-Fort Worth’s rising tech industry, it says.
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“Before COVID-19, Allen was already experiencing a surge in interest from technology companies looking for a home—from fin-tech and video game development to cybersecurity, ” Dan Bowman, Allen EDC executive director, said in a statement.
Bowman anticipates that Allen will be “an optimal location for creative companies leaving cramped center cities like New York and Chicago.” He points to Allen’s medium-density suburban developments that have walkable amenities and top-rated schools.
The four-story tech hub, which will be built by Heady Investments, is part of the Watters Creek District. The resort-style, mixed-use development in Allen plans a conference center, tenant lounge, fitness center, 25, 000-square-foot floor plates, and 90-percent garage-covered parking.
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The project is part of the two million square feet of new commercial projects moving forward this summer that the City of Allen has seen, which includes the neighboring 900, 000-square-feet One Bethany development, which launched with nearly 100, 000 square feet of tenant leases.
Other recent activity includes insurance company Crawford & Co.’s 70, 000-square-foot lease and robotics company Billings Productions’ new 50, 000-square-foot headquarters and manufacturing center set to open this fall.
Developer JaRyCo also announced a partnership to develop farmland into a 135-acre mixed-use property called The Farm at Allen. Once complete, it will house around 2 million square feet of office, retail, hotel, dining, and residential space.
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The AEDC says Allen’s total technology jobs have grown by 5.9 percent each year for the past three years, which are part of the almost 230, 000 high-tech employees and approximately 3, 000 tech companies that call North Texas home.
“As more companies discover the Dallas-Fort Worth metro—including its thriving northern suburbs—we expect to see exponential growth and prominence on the national stage in terms of tech innovation, ” Bowman said.
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Allen Tech Hub Among City's 2 Million Square Feet Of New Commercial Development
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The AEDC says Allen’s total technology jobs have grown by 5.9 percent each year for the past three years, which are part of the almost 230, 000 high-tech employees and approximately 3, 000 tech companies that call North Texas home.
“As more companies discover the Dallas-Fort Worth metro—including its thriving northern suburbs—we expect to see exponential growth and prominence on the national stage in terms of tech innovation, ” Bowman said.
Plano’s Baicells Technologies Partners To Offer LTE Broadband Solution for Unserved Communities and Neighborhoods Plano’s Trintech Acquires Financial Reconciliation Business from Fiserv Carrollton’s ROMCO Equipment Acquires Sierra Machinery, Expands Into New Mexico Irving-Based ATM Giant Launches Line that Handles BillPaying, Crypto Purchases, Cash Recycling, and More Anthropic, Google, Microsoft, and OpenAI To Launch AI Frontier Model Forum
Allen Tech Hub Among City's 2 Million Square Feet Of New Commercial Development
North Texas is a big place, with plenty to do, see, hear, and watch. So, we scour the internet every week to find events and activities for you. As always, things may change at any time, so be sure to check the official website or registration page for the latest details....
Plano-based global biotech company Reata Pharmaceuticals Inc. is being acquired by Biogen Inc. in a deal valued at roughly $7.3 billion. It’s an all-cash deal for $172.50 per share, the companies said....
Trintech, a Plano-based global provider of cloud-based financial close solutions for the Office of the CFO, has acquired Frontier Reconciliation and Accurate Reconciliation from Fiserv, a leading global provider of fintech and payments solutions....
Texas Authorities Confirm 8 Dead In Allen Premium Outlets Shooting Near Dallas, Several More Injured
Carrollton-based ROMCO Equipment Co. has acquired Sierra Machinery, expanding its footprint in the Southwest in a strategic move that the company said shows its commitment to growth, expansion, and long-term success....
A collaboration of the Dallas Regional Chamber and Dallas Next, Dallas Innovates is an online news platform covering what's new + next in Dallas - Fort Worth innovation.
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