BY DUSTIN BUTLER
Diving in deeper
What’s next
By eliminating underused office space, the remaining office space becomes more competi- tive and brings in new companies, Magner said. Additionally, the city offers economic incen- tives to companies willing to move to Rich- ardson and several businesses have expanded or relocated their offices recently, including Associa, Geico and Micron Technology. Associa, a property management company, is investing $55.5 million for real estate pur- chases, building enhancements and other tenant improvements. Similarly, Micron Technology, which makes semiconductors, received an economic incentive of $300,000 and plans to invest $30 million in tenant improvements. Geico designated Richardson as its operating hub in December, expanding its offerings to include commercial insurance, Jason Andruko- nis, Geico head of commercial operations, said. Along with the office buildings’ proximity
Magner said that both the Glenville and Sherman Lofts would have started construction earlier if not for economic considerations such as inflation and lending interest rates. He added that those are beginning to stabilize. As a result, residents may see significantly more construction in 2025 than they did in 2024, especially with a third project on the horizon.
Geico
Associa
Micron Technology
500
250 250
jobs
jobs
jobs
SOURCE: CITY OF RICHARDSON, GEICO/COMMUNITY IMPACT
to DART stations, Magner added that nearby restaurant and entertainment options will further support new residential developments, while they could also see an increase in customers. Patton added that The Glenville’s location makes it unsuitable for a mixed-use develop- ment, similar to CityLine, but the access to public transit and nearby parks and trails make the location “a vibrant area to add housing density.”
“[Redevelopment is] a big priority for us … I think this is an indication that our strategy is being successful in a relatively short period of time.” DON MAGNER, RICHARDSON CITY MANAGER
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RICHARDSON EDITION
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