Wells Fargo could be expanding its North Texas footprint with a regional hub
Wells Fargo could be expanding its North Texas presence if the Irving City Council approves $31 million in incentives.
If approved on Thursday, Wells Fargo would construct a new office development to serve as the San Francisco-based company’s new regional hub.
As many as 4,000 employees could work out of the proposed 800,000-square foot office space. It would be on the south side of Promenade Parkway near the Toyota Muisc Factory and Irving Convention Center.
The Irving City Council is considering a $15 million incentive for the construction of a 4,000-space parking garage and a $4 million incentive for a lake reclamation project.
The council will additionally consider a $12 million incentive under the expectation that Wells Fargo will purchase 22 acres near Promenade Parkway and Las Colinas Boulevard. Under the same agreement, the financial services company must construct two 400,000-square foot office buildings and complete various other items by 2026.
Wells Fargo declined to comment on the proposed incentive.
The development was previously approved by Irving’s planning commission. It was presented by project developer KDC. KDC previously developed the North Texas office campuses for State Farm Insurance, Toyota and JPMorgan Chase.
Wells Fargo was previously referred to as a “confidential client” on the project before the company’s name was revealed through the Irving City Council’s agenda this week.
This story was originally published August 4, 2022 at 3:52 PM.
