On June 8th, Round Rock officials are scheduled to vote on an economic development agreement with EastGroup Properties, a crucial step toward the revitalization of a central Round Rock property. The deal entails awarding EastGroup Properties up to $125,000 for the demolition of an existing structure and the construction of a cutting-edge light industrial facility spanning at least 100,000 square feet by December 31, 2026.
As mentioned by Community Impact, EastGroup Properties initiated planning for the redevelopment project in January of this year. The latest permitting information from the Texas Department of Licensing and Regulation suggests that the redevelopment could represent a $10 million investment in the new light industrial facility. EastGroup Properties, which owns the property located at 350 Texas Ave., is gearing up to breathe new life into this central Round Rock area.
David Hicks, EastGroup Properties Vice President, provided further insight on their redevelopment vision: “While we’re still in the process of finalizing development details, we can confirm that we own the 350 Texas Ave. site, and our intention is to redevelop it into a two-building light industrial, speculative development encompassing approximately 130,000 square feet.”
Moreover, a permit filed with the Texas Department of Licensing and Regulation proposes the construction of two sizeable warehouses, measuring 58,415 and 70,301 square feet. The permit details a tentative start date in April and an estimated completion date in January 2024.
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