Westlake’s Circle T Ranch lassos a prize with Schwab HQ move

Financial giant Charles Schwab’s plan to move its headquarters from California is a big win for the Dallas-Fort Worth area.

It’s an even bigger win for the Circle T Ranch.

That’s where Schwab is already building its more than 1 million-square-foot office campus that will eventually house its corporate offices plus thousands of workers for the company after it acquires competitor TD Ameritrade.

Ross Perot Jr.’s Hillwood development company bought the 2,500-acre Circle T Ranch in Westlake in 1993. Perot paid Dallas oilman Nelson Bunker Hunt less than $20 million for the horse and cattle spread on State Highway 114.

Hillwood drew up development plans for the property, which originally included a large regional shopping mall. The Circle T is part of Hillwood’s more than 26,000-acre AllianceTexas development north of Fort Worth.

In 1998, Fidelity Investments bought part of the ranch to build a regional office center for thousands of workers that has now grown to 1 million square feet.

In 2008, accounting giant Deloitte bought land at Circle T for its huge university campus, which trains thousands of employees.

With Schwab’s headquarters headed to the Tarrant County ranch, Circle T’s position as a financial employment center is likely to grow.

“We think we can create a unique new corporate environment that offers companies a lot of opportunities for growth,” said Mike Berry, Hillwood president. “We have 10 million square feet of corporate office campus that we can do that stretches out from where Schwab is building.”

Hillwood has also designed a mixed-use center called Front 44 adjoining the Schwab campus that will add retail, restaurants, hotels and more.

“We are also going to be putting in the amenities to give that mix of retail and food and beverage these corporations need,” he said.

But don’t expect the rolling hills of the Circle T to be completely covered in buildings. Hillwood’s master plan includes leaving greenbelts and small lakes on the property.

“There is this unique opportunity to create a green environment and have a heavy emphasis on open space,” Berry said.