North Texas continues to prove why it’s one of the fastest-growing real estate markets in the country. A major new development in Plano is reinforcing that trend and signaling where the Dallas housing market may be heading next.
According to Connect CRE, a 425,000-square-foot, two-story data center is currently under construction in southeast Plano at 601 N. Star Road. The project is being developed by Aligned Data Centers for Lambda, a cloud computing company backed by Nvidia. The total investment is estimated at $700 million, with a planned 72 megawatts of computing power expected to come online by 2027.
Construction began in 2024, and significant progress has already been made. The building shell is complete, along with a nearby electrical substation and power infrastructure. The first 9 megawatts are expected to be ready by June 2026, with additional capacity rolling out in phases.
Why This Plano Data Center Matters for the Dallas Housing Market
This is not just another commercial real estate project. It’s a signal.
Large-scale data centers like this one typically bring high-paying tech jobs, long-term infrastructure investment, and increased demand for nearby housing. With Plano, Richardson, and North Dallas already being prime residential markets, this development adds another layer of upward pressure on home values and rental demand.
Each of the 12 data halls inside the facility will span about 20,000 square feet, packed with rows of servers. That level of computing capacity supports industries tied to artificial intelligence, cloud computing, and data processing. These sectors continue to expand rapidly, and North Texas is positioning itself as a key hub.
My Take as a Dallas Realtor
Here’s the reality most people miss: real estate growth follows job growth.
When you see a $700 million investment backed by a company connected to Nvidia, you’re not just looking at a building. You’re looking at future demand. More workers. More relocation. More competition for homes.
In my view, developments like this are early indicators of where the Dallas-Fort Worth housing market is headed. Buyers who move early into areas like Plano and surrounding cities may benefit from long-term appreciation. Sellers, on the other hand, need to understand how to position their homes strategically as demand evolves.
What Dallas Buyers and Sellers Should Do Next
If you’re thinking about buying a home in Plano, Richardson, or North Dallas, this type of project should be on your radar. Waiting too long in a growth market can mean paying significantly more later.
If you’re a homeowner, this is where strategy matters. Pricing, timing, and marketing your property correctly can make a major difference in your outcome.
If you’re a Dallas homeowner trying to navigate this 2026 market, you need a pivot strategy. Click here to access my free 2-page Seller Strategy guide.
If you are selling or buying a home in Dallas, contact Fnu Milat, Dallas Realtor, PSA, SRS at 214-282-8574.
For additional insight into Plano’s economic strength and housing demand, read this related article: Why Plano’s Top-10 Job Ranking Signals Strength for the Dallas Housing Market.
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FAQs
1. How will the new Plano data center impact home prices?
Large-scale developments like this typically increase housing demand, which can lead to rising home prices in Plano and nearby areas.
2. Where is the new data center being built in Plano?
The project is located at 601 N. Star Road in southeast Plano, Texas.
3. When will the Plano data center be completed?
The project is expected to be fully completed by 2027, with initial operations starting in phases as early as mid-2026.
4. Is Plano a good place to invest in real estate in 2026?
Plano continues to show strong job growth, infrastructure investment, and housing demand, making it a key market to watch in North Texas.