Thursday, September 06, 2012

ACS seeks redevelopment zoning for big Dallas property

The owners of a business campus on North Central Expressway in East Dallas want to rezone the property for a major mixed-use development.
Affiliated Computer Services — a unit of Xerox Corp. — is asking the city of Dallas to rezone its 26-acre property at Haskell Avenue and North Central.
The campus is just north of the Cityplace development and has five office buildings and a data-processing facility.
ACS is asking the city to rezone the property for a development that would include almost 2,000 apartments, a hotel, retail and commercial buildings, medical facilities and office space.
ACS says in filings with the city that it is seeking the zoning to “facilitate future redevelopment,” but it says the “campus will remain intact for the immediate future.”
The property has about 650,000 square feet of office space, including a prominent 12-story building at the corner of Haskell and North Central.
The campus originally housed the headquarters for Southland Corp., which owned 7-Eleven Inc. Southland built the Cityplace complex next door and moved its operations there in the late 1980s.
ACS has owned its property, which extends along North Central from Haskell to Carroll Avenue, for more than a decade.
In 2010, Xerox acquired ACS in a $6.4 billion deal.
Since then, real estate agents have speculated that the complex might be downsized or consolidated in another location.
Brokers have also said that Xerox representatives have asked them about the potential for a sale of the property.
Getting the campus rezoned for multiple uses would improve the value of the real estate. The property is valued for taxes at more than $20 million.
“It makes sense to clean up the zoning into one classification that would be consistent with nearby properties such as the Cityplace,” said Kevin Lightfoot, ACS’ vice president of corporate communications.
“Redevelopment or a sale could be an option, but at this time Xerox plans to continue operations at this location for the foreseeable future.”

Steve Brown 
Dallas Morning News