Fort Worth’s D.R. Horton Inc. is moving forward with plans to relocate its corporate headquarters from downtown to a new $20 million-plus, 150,000-square-foot campus on six acres in North Arlington.
On August 4, the Arlington City Council will consider approval of a $5.5 million development agreement that will assist D.R. Horton with its corporate relocation to the city. D.R. Horton plans to invest more than $20 million to build the new corporate campus and parking facility along the Interstate 30 Frontage Road just east of North Collins Street.
According to a city staff report on the agreement, D.R. Horton purchased the vacant land located at 1361 Wet-N-Wild Way in 2013 with the intention of developing the site. The capital investment of the project (including land, building, and parking costs) is estimated to exceed $20 million, and the company will provide and fill 350-500 jobs during the term of the agreement.
According to a news release from the city of Arlington, the site has some development challenges. The $5.5 million development grant would assist D.R. Horton with improvements to drainage, roadways, structured parking and other infrastructure at the site.
“D.R. Horton’s desire to return to Arlington and develop a new headquarters in the I-30 corridor is a significant opportunity for our city,” Arlington Mayor Jeff Williams said in a statement.
“Such an investment would help spur additional interest in the corridor, particularly in the Collins/I-30 interchange where there is available acreage ready for development.”
D.R. Horton, the largest U.S. homebuilder by revenue, currently employs approximately 6,300 employees nationwide with about 500 in its downtown Fort Worth location in the City Center Tower 2 at 301 Commerce St. Horton currently leases eight floors and about 160,000 square feet in the tower, which is named for the company. The company has been in the tower since 2004, when it moved from Arlington. The company was founded by current Chairman Donald R. Horton in 1978.
“The proposed relocation of our company will provide us with a new, company-owned headquarters that is conveniently located in the heart of North Texas with great access to D/FW International Airport. We look forward to returning to Arlington,” Horton said in a news release.
Sundance Square officials said they “anticipate significant interest in this high profile Class A office space.”
In the third quarter, the company reported earnings that beat analysts’ estimates as the company sold more properties at higher values.
Net income increased to $221.4 million, or 60 cents a share, for the three months through June 30 from $113.1 million, or 32 cents, a year earlier.