Leander City Council approved an economic development agreement with Titan Development on Thursday to establish a 115-acre business park. At full capacity, the business park is anticipated to deliver up to 1.3 million square feet of Class-A flex industrial space. The development is located at the northeast intersection of Hero Way and CR 270. view map
“We are pleased to develop this park in partnership with the City of Leander. Leander and surrounding areas have historically been underserved by Class A Industrial offerings,” said Joe Iannacone, Austin-based Partner with Titan Development. “With access to a 183A, a major highway, and in close proximity to a large highly skilled labor pool, this park is well positioned for success within Austin’s rapidly growing industrial market.”
Following approval of Titan incentives at Thursday’s meeting, Council also approved the annexation and zoning for the property slated for development. Titan intends to build out their project in three phases with 200,000 square feet of buildings and at least $24 million in capital investment identified for the first phase, which must be built within five years. Below is a summary of the agreement performance criteria:
• Phase 1 – 200,000 square feet of industrial buildings and $24 million total investment by 2029
• Phase 2 – 400,000 square feet of industrial buildings and $48 million total investment by 2032
• Phase 3 – 700,000 square feet of industrial buildings and $84 million total investment by 2035
Bounded by the future extension of San Gabriel Parkway to the north and Hero Way to the south, Titan’s proposed location falls within the City’s designated future employment center. As one of the community’s largest proposed business park projects to date, City officials hope it will spur renewed commercial and industrial development interest in Leander.
“Titan’s development will add significant resiliency to the Leander economy and should help attract future employers to our area,” Leander Mayor Christine DeLisle said.
City incentives include up to $3.5 million in cost-sharing reimbursements for CR 270 roadway improvements, which are required for site development. Full build-out of the Titan business park is anticipated by 2035, and expectations are that over the next 10 years the development could generate $18.5 million in combined tax and utility revenues for the City of Leander.
About Titan Development
Titan Development is one of the largest and most active Class-A spec industrial developers in the Austin Region. The firm has completed over $3 billion in real estate development with over $400 million of assets under management, and over 20 million square feet of developed real estate.
About Leander, Texas
For a city of more than 80,000 population today, Leander was less than half its size just 10 years ago and has been ranked one of the fastest-growing cities in the nation since 2015. Our incredible growth and unique location between the beautiful Texas Hill Country and prosperous Austin Metro are a testament to the city’s devotion to community and quality of life.
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