Hutto city officials, alongside residents, project developers and Texas state Sen. Charles Schwertner (R-District 5), celebrated the onset of the first phase of construction on Titan Development's $100 million speculative building development investment.
“Ready-to-move-in speculative buildings have been one of the criteria businesses look for when they consider coming to Hutto,” said Hutto Mayor Doug Gaul.
Initial construction on the project will bring a 100,000-square-foot speculative building to be completed in nine to 12 months, according to Kevin Reid, chairman for Titan Development. Documents made available by the City of Hutto claim the first building will be made available for occupancy Spring 2019.
The construction on the first spec building will run simultaneously to the construction of Schneider Boulevard, road infrastructure essential to the business park development. Construction on Schneider Boulevard broke ground Oct. 17.
Currently, Titan Development has plans to solely develop the first speculative building in the business park, though the full plan for the first phase of development calls for the construction of 800,000-square-feet total of building space. Once the first building reaches 80 percent occupancy, Titan Development will begin construction on Innovation Business Park’s next building, according to Reid.
Some businesses have expressed interest in leasing one of the development’s build-to-suit buildings, a structure built specifically for one company, according to Reid. The Titan Development chairman said that businesses that could potentially fill those spaces include light manufacturing plants or distribution centers.
“This is the most exciting project [Titan Development] is working on,” Reid said.
The groundbreaking event Monday bookends a busy month of development ceremonies for the City of Hutto. Four days prior the city broke ground on the first phase of the Co-Op District development, which will bring retail spaces, restaurants, an entertainment venue, luxury apartments and more to Hutto.
“We are taking steps to diversify the local economy and move Hutto forward,” Gaul said Monday.