Thousands of State Farm Employees Slated to Work Nearby Transit-Oriented Development
Embrey Partners, Ltd. has starting pouring concrete on the foundation of GreenVUE, a transit-oriented development on Greenville Avenue in Richardson, TX.
The project at 1350 N. Greenville Ave. in the Telecom Corridor is scheduled for completion in 2015 with leasing starting as early as late summer 2014. San Antonio-based Embrey’s 11.3-acre infill property will include more than 400 luxury one- and two-bedroom urban flats ranging from 650 to 1,450 square feet.
The development is within walking distance of the DART Redline Arapaho Station and is less than three miles from the new State Farm Insurance regional campus. State Farm’s 2-million-square-foot campus, the largest leased office project in Dallas history, will house thousands of employees in four buildings.
One State Farm building is complete and construction has begun on the second, with the insurance company starting to move in at the end of 2014.
"As the most significant and unique high-tech business concentrations in Texas, Telecom Corridor is a particularly exciting development for us," said Trey Embrey, president of Embrey Partners. "We have carefully researched the area and the market and are confident we can successfully and competitively enter the area and deliver the best value to both our renters and partners with this project."
Construction financing is being provided by Wells Fargo.