A recently approved economic development agreement is expected to bring approximately 125,000 sq. ft. of additional Class A office space to a major entryway to Round Rock’s downtown.
Round Rock City Council approved an agreement at its July 26 meeting for the City Centre project, which will be developed on five acres of land located at the northeast corner of McNeil and I-35, near Napa Auto Parts. Under the agreement, the City will provide a $2.2 million loan to Crow Group, who will be required to invest at least $24 million in the proposed site. The agreement includes provisions for the loan to be forgiven if the Crow Group complies with its obligations in the agreement.
The project aligns with goals outlined in the City and Round Rock Chamber’s economic strategic plan to expand and develop a more diverse portfolio of existing space for business.
- City Centre 1 is a 22,500 sq. ft. building completed in March 2018 and is currently in the process of being leased.
- City Centre 2 will also be 22,500 sq. ft. and is currently in the planning and permitting phase.
- City Centre 3, which will be the largest of the three buildings, will be about 100,000 sq. ft. and is expected to break ground in late 2019/early 2020.