KDC Seeks $3.5 Billion for AT&T Plano Campus
Developer KDC is sourcing massive financing to build the new 2.3 million square foot AT&T headquarters in Plano.
Updated on Oct. 23, 2026 in Remote Work
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Developer KDC is pursuing $3.5 billion in credit tenant lease financing to construct a sprawling 2.3 million square foot corporate campus for AT&T at 5400 Legacy Drive in Plano. The project serves as the new hub for a company that recently mandated a five-day in-person office schedule.
Why it matters
The massive headquarters project is designed to help AT&T consolidate operations and attract talent while providing a more accessible commute for North Texas personnel. It marks a significant shift as the company transitions from its current footprint at Downtown Dallas's Whitacre Tower.
KDC is seeking $3.5 billion in credit tenant lease financing for the 54-acre development, which features a 280-foot cell tower. Plano officials approved a $20 million incentives package that includes a 65% property tax rebate lasting 25 years.
The players
KDC
A prominent commercial real estate development and investment firm specializing in corporate build-to-suit projects.
AT&T
A global telecommunications leader currently shifting its primary operational headquarters from Downtown Dallas to a new facility in Plano.
John Stankey
The chief executive officer of AT&T who has championed the company's return-to-office initiatives and campus relocation strategy.
CGA Capital
A financial services firm specializing in structured credit tenant lease financing for large-scale corporate developments.
CBRE
A major commercial real estate services and investment firm acting as an arranger for the debt financing of this campus.
The details
The massive project includes parking structures, a daycare center, and a pedestrian bridge to support a fully in-person workforce. Debt for the development is being arranged by CGA Capital and CBRE with a projected weighted-average life of nearly 19 years.
Timeline
Beginning of 2025: AT&T mandated five-day in-person office attendance.
January 2026: AT&T announced official plans to relocate to Plano.
April 2026: Executive John Stankey discussed benefits of the new campus.
Second half of 2028: Targeted initial move-in date for the new campus.
Market Landscape
This project reflects the ongoing consolidation of corporate headquarters into suburban campuses to support mandatory in-office requirements. It follows the precedent set by the City of Plano's $20 million corporate incentives package, which directly lures major firms away from traditional urban centers.
The relocation confirms that AT&T employees will remain on a strict five-day in-person schedule at the new facility. Residents and local commuters should anticipate increased commercial activity and infrastructure development around the Legacy Drive site leading up to the 2028 move-in.
The takeaway
The move reinforces a broader corporate trend where companies are investing in massive, custom-built campuses to enforce and facilitate full-time, in-person collaboration. Employees and local stakeholders should plan for significant operational shifts as the company fully migrates its workforce to the new Plano site by late 2028.
Further reading
Find more updates on the future of professional office environments at Remote Work.
Source note: This article includes information reported by Bisnow.
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