Previous reporting by the Dallas Business Journal was confirmed Monday with news that EdgeCore Internet Real Estate plans to build a $1 billion data center in Richardson.
According to the Dallas Morning News, EdgeCore wants to build a roughly 900,000-square-foot facility on 33 acres at Shiloh Road and the President George W. Bush Turnpike.
Plans filed with the city of Richardson call for two office and data center buildings, each spanning 358,000 square feet.
An electric substation will also be build on the site, the DMN added.
The city will vote this week on the project submitted by the $2 billion company, which was founded by Mount Elbert Capital Partners, GIC and OPTrust with the aim of buying of tracts of land in key data markets across the U.S.
EdgeCore company is fueled by $800 million in equity, which it plans to use to construct about $2 billion in data center development and investment.
The Denver-based firm first told the Dallas Business Journal in February that it had an undisclosed tract of land under contract in an Dallas-area suburb and planned to close on the parcel by the end of March.
Construction on the first building within the data center campus is expect to begin this summer.
“…We understand the business really well, and we believe development is the right investment in the market right now,” Tom Ray, chairman and CEO of EdgeCore Internet Real Estate an Mount Elbert, told the DBJ. “As long as tenant demand stays the same as it’s been in the last few years, there are a significant number of data centers needed, and we want to do our best to capture our share in the market.”
In addition to the Richardson land, EdgeCore has a 25-acre tract in Mesa, Arizona, and is under contract for space in Reno, Nevada,
By this summer, Ray said he expects to acquire land in three additional U.S. markets, giving EdgeCore a presence in five or six of the country’s top eight data center markets.
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