On January 19, Independent Financial, a financial services company with 93 locations across Texas and Colorado, announced that construction has begun on phase two of the company’s headquarters in McKinney. The companies making the announcement also included the City of McKinney, McKinney Economic Development Corp. and KDC, a corporate build-to-suit development and investment firm.
The six-story, 198,000-square-foot building will more than double the company’s exisiting presence at McKinney Corporate Center Craig Ranch and allow the organization to consolidate its banking operations teams. The second phase will also accommodate the organization’s expanding workforce and support future growth opportunities.
“The completion of the second building will allow us to bring all of our Independent Financial corporate employees together in one location, improve operations and recruit premier-level talent,” says David Brooks, Independent Financial chairman and CEO. “We have experienced strong growth in recent years and it had become readily apparent that it was time to expand our campus. The City of McKinney has been a great partner through the years, and we are excited for our employees to be located in such a wonderful community.”
Ground has been broken on the project that is expected to be completed in 2022. The design of phase two will mirror the original building, also six stories, but will be approximately 20 percent larger. The initial structure was completed in 2019 on a 10-acre site located at State Hwy. 121 and Grand Ranch Pkwy.
“McKinney continues to be a thriving area of North Texas with a strong business-friendly environment,” says Peter Yates, vice president of development at KDC. “We look forward to continuing our relationship with Independent Financial and developing a phase-two building that complements the headquarters and sets the course for the company’s continued success.”
The McKinney Economic Development Corp. expects the expansion to provide an added boost to the jobs created by the first building and local investments being made during and after the construction phase. The new building will also feature a large conference center to accommodate town halls and large group meetings.
Phase two will feature a sleek glass exterior and expansive terraces, complemented by a mature greenbelt. Building occupants will enjoy views of the water feature and have direct access to walking trails, which connect to the new HUB 121 mixed-use development set to welcome its first retail businesses in early-to-mid 2021. Also available to occupants of both buildings will be a state-of-the-art, full-service fitness center with locker rooms and a grab-and-go dining area.
The cost of phase two is estimated at $59.5 million for a total investment of $112 million in the two buildings, excluding land costs.
The City of McKinney has been recognized by Money magazine and Realtor.com as one of the most-searched-for places to live in the country.
“It has been amazing to watch the explosive growth by Independent Financial as they continue to build value and jobs in our community,” says George Fuller, mayor of McKinney. “While their investment and presence in the business realm is readily seen, what makes Independent Financial truly special is its investment in the well-being of the community.”
“Independent Financial and it’s CEO, David Brooks, have been a driving force in McKinney, supporting many community projects within the city and region both from an economic development standpoint and philanthropic aspect,” says Brian Loughmiller, chairman of the McKinney Economic Development Corp. “This is the type of project for our community that the state legislature envisioned when it authorized the creation of economic development corporations for the purpose of incentivizing development with city sales tax dollars. The completion of phase two of Independent Financial will not only change the landscape of corporate development along the 121 corridor, it will serve to bring new jobs to our community.”
Established in 1913, Independent Financial operates 93 locations in four markets: Dallas/Fort Worth, Austin and Houston, as well as the Colorado Front Range region.