Richardson Data Center Starts Construction With Debt and Equity Funding

A Richardson data center project has obtained funding to kick off construction.Dallas developer KDC is building the 130,000-square-foot tech project on Lookout Drive just east of Plano Road. The data center site is south of KDC's $2 billion CityLine development.Holliday Fenoglio Fowler L.P. said it arranged construction financing and joint venture equity for the development.Deed records show that Veritex Community Bank provided a loan for the project.KDC also built the State Farm Insurance data center next door.The Telecom Corridor project, which just started, is KDC's fifth data center development.The property is part of the historic Spring Creek Farms previously owned by the Owens family.Alliance Architects is designing the project.The new data center at 1510 E. Lookout Drive will be completed next summer.The city provided a 10-year, 50 percent tax abatement for the project.HFF's Cullen Aderhold, Jim Curtin and Michael Cosby put together the project funding package.  Continue reading...

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