H&LA Development Update: Irving, Texas

H&LA’s recent research for a project in Irving, Texas revealed some exciting new hospitality-related developments happening in the area. These developments will have a major impact on tourism, employment, and the general economy in the Irving area in 2019 and beyond.

  • A new $200 million concert venue called The Pavilion at Toyota Music Factory opened near the Irving Convention Center at Las Colinas in 2017. Booked and promoted by Live Nation, this state-of-the-art facility offers indoor and outdoor performance spaces capable of holding between 2,500 and 8,000 attendees, plus more than two dozen bars and restaurants. The Pavilion at Toyota Music Factory has hosted nationally recognized performers and is positioned to be one of the top suburban concert venues in the Dallas/Fort Worth area for years to come.
  • Pioneer Natural Resources is currently building a new 35-acre headquarters campus within the Hidden Ridge development in the Las Colinas area of Irving. Slated for completion in 2020, this project will create a new 10-story office building that will house over 1,000 employees over the next few years.
  • McKesson Corp., the nation’s largest pharmaceutical distributor, recently relocated its headquarters from San Francisco to the Las Colinas area of Irving, where a large McKesson campus already exists. This move further solidifies Irving’s reputation as the “Headquarters of Headquarters,” with more corporate headquarters per capita than any other U.S. city.
  • Irving-based Allstate Insurance Co. recently announced plans to add 1,300 jobs as part of an $11 million capital investment in the region. This major expansion will be facilitated in part by a $2.6 million grant from the Texas Enterprise Fund.
  • Caris Life Sciences, an Irving-based cancer research firm, recently began construction on a new 115,000-square-foot corporate park in Irving. This project will be built in three phases, with the first phase scheduled for completion in 2020. The company currently has about 700 employees in Irving, and it plans to add another 500 positions at the Irving campus once the expansion is finished.
  • In November 2018, groundbreaking took place on a new tech-oriented office campus in the Las Colinas section of Irving. The first phase of this project, dubbed the Irving IT Park, will include a three-story, 35,430-square-foot office building designed for multiple tenants, with future phases totaling more than 125,00 square feet of leasable office space.
  • Dallas-based Perot Development Company has announced plans for a new 200-acre industrial park along State Highway 161 in Irving, on the eastern edge of Dallas/Fort Worth International Airport. This project will include four buildings spanning a total of 2.4 million square feet.
  • In June 2019, Dallas/Fort Worth International Airport announced plans for a new $3 billion terminal. Scheduled to open by 2025, Terminal F will be the airport’s sixth terminal, adding 24 new gates and handling more than 200 flights per day. The new terminal will allow expanded flight offerings from American Airlines, which recently completed a new corporate campus in Fort Worth, south of the airport.