City officials in Richardson, TX recently announced two major actions that will better position the city for new growth. The actions are a result of the City’s 2018 vision and strategy for the area; an effort for which NP provided economic and innovation sector assessment, real estate analysis, engagement with key stakeholders, and strategy development.
In December 2019, the City Council approved a rezoning of the 1,200-acre district to encourage higher density growth and a mix of uses. Prior to the rezoning 90% of the area was zoned industrial. The rezoning is organized into four subareas:
In January 2020, local partners unveiled the district’s new brand: The Richardson Innovation Quarter (The IQ). The IQ promotes Richardson’s district as a place to “live, work, and invent”, seeking to attract entrepreneurs looking to commercialize new developments and grow their companies in the area. The district is already home to companies like id Software; and Honeywell, Raytheon EO Innovations and Siemens have operations based there as well.
The regulatory and marketing efforts will work hand in hand to attract new business and residents to the area and will be bolstered by additional work to increase multi-modal transportation options, for which the City received a grant in September 2019.