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Liberty Mutual bringing a lot of class and glass to Legacy West


Liberty Mutual’s new regional offices being built in Plano’s Legacy West is taking shape with a lot of glass going skyward.

Things are cranking right along on three headquarters and corporate offices as they prepare to open in Legacy West this year.  Plano officials expect the projects to add nearly $1 billion to the city’s tax rolls and have a broader effect on the local economy. The City of Plano also expects the three companies of Toyota Motor North America, Liberty Mutual and JP Morgan Chase and let us not forget the FedEx Office complex that has been up and running for nearly two years now and the One Legacy West office building already completed some time ago. And so NTT Data doesn’t feel slighted let us not forget their move into the One Legacy West building which is adjacent to the FedEx Office building and directly across Legacy Dr from the TOYOTA office campus.  Overall these companies are  projected to bring about 14,000 employees to the southwest corner of SH 121 and the Dallas North Tollway.

Additionally over the next three years after all the major companies have completed their build out in Legacy West about 30,000 employees are expected to working in this corridor. So if one thinks about this factor of 30,000 employees being within this approximate two square mile corridor the economic effect it will have on a daily basis is staggering as these employees simply go to lunch a minimum of three times a week and this is not even counting the socializing after work hours in the immediate area plus expense account entertaining.

And to house vendors and out of town employees coming to visit Toyota Motor North America, Liberty Mutual and JP Morgan Chase offices the Sam Moon Group’s $96 million Renaissance Hotel will be open in June to accommodate those visitors .  Plus all the new corporate neighbors employees at Legacy West, i.e. Toyota Motor North America, JP Morgan Chase and Liberty Mutual will have new residential developments from Britton Homes Legacy West Villas, the Windrose luxury high rise apartment building so one can easily see how the projected development  total of $3.2 Billion seems more than realistic.

TAKEAWAY: Watching all this go from ground zero to eventual completion has been amazing to watch.  One other thing of note is I’ve said if there was any business I’d like to have gotten into it was the heavy equipment industry of Caterpillar type equipment, concrete and construction cranes.  And I’m going to add one more being the glass panel business for the likes of the Renaissance and  the Liberty Mutual glass tower ….. as (no pun intended) they shine like a diamond in the rough.

About Jerold Smith

From 35 years in the corporate world to a full-time Broker & REALTOR® for the last 15 years, I know real estate. I share my extensive knowledge and expertise with buyers, sellers or investors, personally. I am a NATIVE TEXAN and know the local market better than anyone else. Any questions? Just ask.

Comments

  1. Hello Jerold,

    I have purchased a home at villas at legacy and my plans have slightly changed. I am contemplating flipping it, renting it and hold for about 3 years until the project is finished or as a last resort moving into it. I might lose money if I flip it as I am competing with the builder. What is your projection on this development for the next two to five years? I am sure they will appreciate and that’s why I got in early.

    • Hi Roula,

      You’re spot on. Most projects are started with investors. Buy and hold 5 to 7 years, lease in between and you should be fine. Thanks for commenting.

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