KDC has acquired the former Electronic Data Systems campus in Plano and has started demolition work to prepare the site for a new global headquarters for AT&T Inc. The project is described as a $1 billion headquarters development, with the former corporate campus being cleared to make way for AT&T’s future home.
According to reporting cited from the Dallas Business Journal, demolition crews are currently removing the driveway and the north parking garage at 5400 Legacy Dr. The work is expected to extend to the entire 1.6 million-square-foot campus, with the full demolition anticipated to take roughly five to six months. The activity marks a significant physical reset of the long-standing EDS property as it transitions to a new single-tenant corporate campus.
AT&T has maintained its headquarters at Whitacre Tower in downtown Dallas since moving from San Antonio in 2008. The decision to relocate the headquarters to Plano is characterized as a notable loss for downtown Dallas, while at the same time being viewed as a substantial economic gain for Plano. The shift underscores the redistribution of corporate employment and investment within the broader region.
The 54-acre site was sold by NexPoint Development to KDC, which is leading the AT&T campus project. With the transaction, KDC becomes the owner of the former EDS property and will serve as AT&T’s landlord once the new headquarters is completed and occupied. AT&T is identified as KDC’s tenant for the new Plano campus, consolidating the roles of developer and landlord under KDC for this build-to-suit assignment.
The project team also includes the architecture firm Gensler, which is involved alongside KDC in planning and designing the new headquarters environment. On the capital side, JP Morgan is providing a $400 million construction loan to KDC to help fund the development. The combination of equity investment in the site acquisition and a sizable construction financing facility underpins the multi-year redevelopment of the property.
Project timelines detailed in the reporting indicate that, if current schedules hold, AT&T employees could begin moving into the new Plano headquarters in the second half of 2028. That timing aligns with the current demolition schedule and the subsequent construction period required to deliver a large-scale, purpose-built corporate campus on the legacy EDS site.
