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Foundry Receives Grant to Redevelop Vacant Plano Office Building
The city of Plano is taking a proactive position regarding a vacant, obsolete office building. The town is providing Foundry Commercial Holdings with an economic development grant to develop a vacant office building in south Plano.
The $750,000 grant will be used to redevelop the vacant 275,000-square-foot building at 2700 W. Plano Parkway. Until May 2020, it housed Transamerica’s Plano office.
Community Impact reports Foundry Commercial will be required to demolish the existing office building and replace it with a minimum 300,000-square-foot manufacturing, industrial, office and research and development space. The property improvements must also be worth at least $21 million by Dec. 26, 2026.
The funding for the grant will come out of Plano’s Economic Development Fund, according to city documents.
Foundry has 13 offices, 72 million square feet under management and has a total D & I transaction volume of $4.4 bilion.
- ◦Development
