Posted May 13, 2016, 3:48 AM
|
|
Registered User
|
|
Join Date: Sep 2011
Location: Dallas
Posts: 2,221
|
|
Irving's Pioneer project update:
Pioneer Natural Resources gets $6 million in economic incentives for new Irving headquarters campus
Steve Brown
May 12, 2016
Quote:
Irving’s city council voted Thursday night to provide almost $6 million in economic incentives for a new office headquarters for Pioneer Natural Resources.
|
Quote:
Pioneer Natural Resources – an energy firm already based in Irving – would move almost 1,100 people to the planned 750,000 square-foot office development on Hidden Ridge Drive.
|
Quote:
“It’s an opportunity to retain a major employer with a very highly paid workforce,” Scott Connell, director of Irving’s Economic Development department, told the council. “A critical issue for us is it secures a major anchor for the Hidden Ridge development.”
|
Quote:
Located on 110 acres adjacent to communication firm Verizon’s long-time Irving regional office, the Hidden Ridge development will be constructed adjacent to a new DART commuter rail station.
The ambitious mixed-use project is planned to include more than 2 million square feet of office space, apartments, retail, restaurants and a hotel.
|
Pioneer Natural Resources new headquarters would be in the blue buildings just west of the planned Hidden Ridge town center and DART rail station. (Gensler)
Quote:
Verizon has told Irving that the development could eventually be worth more than $1 billion and house up to 10,000 workers.
Pioneer’s planned office would sit on 38 acres in the center of the Hidden Ridge development, adjacent to residential and retail center and the new transit station.
“We are very excited about retaining a major employer in our community,” Connell said. “The company is still considering opportunities in other Metroplex cities.
|
Quote:
To land the Pioneer project, Irving agreed to give the company more than more than $5 million in property tax abatements over a 10-year period. The city council also voted to give Pioneer cash economic grants of more than $700,000 to be paid in installments over a period of several years.
To qualify for the initial economic incentives Pioneer will have to have its new Hidden Ridge offices open by 2020 and 1,090 people working there. The company has said it expects to grow its workforce by more than 300 people after the project is finished.
|
Quote:
Irving’s agreement also requires Hidden Ridge to build a large portion of its apartments in a high-rise building of at least seven floors.
|
Quote:
Construction on the Hidden Ridge project could begin as soon as late this year. Architect Gensler has been working on master plans for the transit-oriented development.
|
Full Article
|