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Texas Research Quarter, a $4 billion life science innovation district planned for 200 acres in Plano, Texas, has received developmental approval from the Plano City Council with NexPoint as developer and a financial plan for a tax increment financing reinvestment zone. The TIRZ#5 will enable the city to use a portion of the property tax revenues for public infrastructure projects.

NexPoint, a Dallas-based alternative investment firm, is also seeking similar agreements with other local taxing entities, including Collin County and the Plano ISD. The firm noted that these agreements are part of its attempts to establish a public-private partnership that reflects unified support for the innovation district and would provide funding needed to deliver world-class life science facilities and recruit major companies to Plano.