Fidelity Investments of Boston broke ground for its new southwest regional headquarters in Westlake, Texas on May 7. Fidelity is consolidating its Dallas-area businesses on the 314-acre site.

Fidelity bought 100 acres and paid about $10 million for the site, according to The Fort Worth Star-Telegram.

A 700,000 square-foot building with a data center and garage will be the first complex built on the site. A cafeteria, conference center and exercise facility will also be built. About 1,700 Fidelity employees will be moved to the headquarters from Dallas and Irving.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.