Goldman Sachs has officially begun construction on an 800,000 square foot all-electric urban campus in Dallas, expected to consolidate the firm's local operations under one roof.
Goldman Sachs is partnering with Hunt Realty Investments and Hillwood Urban on projects valued at more than $500 million. 2323 N. Field Street At Victory Park. Billionaires Ray Hunt and Ross Perot Jr. attended Tuesday's groundbreaking ceremony on the three-acre property, where bulldozers had already moved earth.
The campus is designed to accommodate more than 5,000 employees, compared to Goldman Sachs' current 4,000 employees across the Dallas-Fort Worth area, the New York-based company said in a statement. It is said that it has been done. Goldman Sachs has operated in Dallas for more than 50 years, and the city is the company's second-largest employment center outside of its New York headquarters, with 10,000 employees, according to Goldman Sachs. It is said that it exceeds.
JPMorgan Chase & Co. is funding construction loans totaling $513.9 million, according to Dallas County public records. Balfour Beatty Construction is the general contractor for this project.
The New York office of Denmark-based Henning Larsen Architects has designed Goldman Sachs' new Dallas campus, which will have two buildings, the tallest of which will be 14 stories high. The campus will provide Goldman Sachs with a “modern working environment” with “dedicated workspaces that enable collaboration and productivity,” and support employee health and wellness, according to a statement. is expected.
The building is designed to include an on-site cafe, fitness center, backup childcare facility, underground parking, meeting space, and a variety of outdoor gardens and terraces. The design includes social spaces, but detailed information about their functionality was not revealed. Construction is expected to be completed at the end of 2027.
The project will be Henning Larsen Architects' first in Texas, according to the firm's website. The company's major offices His projects include Microsoft's Danish headquarters and Siemens' global headquarters in Germany.
Construction on the Goldman Sachs campus is starting several months after it was originally scheduled to begin. The campus design was also reduced by at least 100,000 square feet from the original plan.
Hunt Realty is the campus owner and Hillwood Urban is the project developer. Chris Kleinert, CEO of Hunt Realty, said Goldman Sachs is developing the real estate company's larger 11-acre mixed-use development called North End, which includes a 1.5-acre park and a 1.5-acre park. He said he was anchoring. It is near the Perot Museum, the Katy Trail, and the American Airlines Center, home of the NHL's Dallas Stars and NBA's Dallas Mavericks.
The new campus plans to power the hub solely with electrical energy, without using any gas, and is aiming to achieve LEED and WELL certification. A Goldman Sachs spokesperson said the campus will be powered by some form of renewable energy source.
The city of Dallas offered Goldman Sachs approximately $18 million in financial incentives in exchange for the company's investment and job creation.
Dallas Mayor Eric Johnson said in a statement that “Goldman Sachs is a leader in the finance and investment banking industry,'' and that Goldman Sachs' latest expansion in Dallas is “a great example of how Dallas has grown in recent years.'' “It's a significant sign of progress,” he added.
The Dallas-Fort Worth region is a hub for financial services companies in the southwestern United States.Recently, Wells Fargo construction milestone reached The company has opened a new $455 million, 850,000-square-foot office campus in the Dallas suburbs. Once completed, the campus is expected to bring more than 4,000 employees to the San Francisco-based bank.
A few blocks away from the Goldman Sachs construction site, Bank of America signed the largest multi-tenant office lease in Dallas this year. 1919 Woodall Rogers Freeway Located in uptown Dallas. The new office building is scheduled to be completed in 2027.
Like other industries, financial services companies are flocking to Texas from the more expensive coastal markets of New York and California. Texas is JPMorgan Chase's second largest employment center, with more than 30,000 employees.Bank based in New York City Recently moved to new offices in downtown Dallaswhich has a four-building, 1.5 million-square-foot campus in Plano, Texas.
Charles Schwab has moved its San Francisco headquarters to Westlake, a north Texas suburb. in January 2021 After the completion of the TD Ameritrade acquisition. Asset management firm Fisher Investments also announced the following: Plans to move West Coast headquarters to Texas, the founder is from Dallas. The company has an office in Plano.
