An extensive renovation in North Texas will welcome hundreds of new jobs.
Property management firm Associa is investing $55.5 million over three years to refresh a two-building complex in Richardson and consolidate its workforce into the new location. The site, located at the southwest corner of East Lookout Drive and North Plano Road, will see more than 260,000 square feet transformed. Associa’s headquarters currently reside in Dallas at 5401 N. Central Expy.
Associa, founded in 1979, is a community management service company with 300 offices nationwide and over 15,000 employees. Once complete, 500 existing positions are expected to be moved to the company’s new headquarters. The project will also generate 250 new jobs. At full build-out, the complex will be able to house around 1,000 employees.
The City of Richardson says they prepared a support package for the planned HQ relocation, including fee waivers and building modernization grants.
“This package reflects our commitment to supporting Associa’s success and to fueling investment and job growth in Richardson,” City Manager Don Magner said in a September release from the Richardson Economic Development.
“It also represents our continued, strategic focus on the commercial real estate space, and our strategy to ‘reinvent’ our legacy office campuses via intentional redevelopment, enhanced amenities, and support for tenant improvements,” the press release continued.
For their part, Associa says they are excited to make the transition to the new space in Richardson.
“After an extensive search and careful consideration, we are excited about our decision to join this community as the home of our new global headquarters… The city of Richardson offers a dynamic business environment, robust infrastructure and a vibrant community that aligns perfectly with our company’s values and vision for the future. We extend our heartfelt gratitude to the city officials, community leaders and residents of Richardson for their invaluable support,” said Associa’s Vice President of Corporate Real Estate, Clint Wallis.
Work on the renovation is expected to kick off in December, and Associa plans to move into the refreshed space during the first quarter of 2025. According to a November 20 filing with the Texas Department of Licensing and Regulation, the construction itself is forecast to cost over $8 million.