Having just sold the first phase of its Hidden Ridge development, Verizon Corp. is pushing ahead with plans to build the next section of the more than $1 billion Irving project.
Verizon and Dallas developer KDC sold the just-completed 1.1 million square foot Pioneer Natural Resources buildings in Hidden Ridge to a partnership of domestic and international investors. The energy company headquarters campus fetched more than $584 million in the sale.
At the same time Verizon was wrapping up the Pioneer buildings sale, the telecom company was working with the City of Irving to start the next phase of the mixed-use Hidden Ridge project.
In plans since 2015, the more than 100-acre Las Colinas development is across the street from Verizon’s regional office campus, which dates to the early ‘90s.
Along with the Pioneer Natural Resources buildings, Hidden Ridge is designed to include an additional 1.5 million-square-feet of offices for corporate tenants, a 200-room full-service hotel, more than 1,000 residential units, 80,000-square-feet for restaurant and retail space, a two-acre park and a new DART commuter rail station.
Read more at Dallas Morning News.